DGAP-News: Minapharm Pharmaceuticals acquires majority stake in ProBioGen - Dr. Wieland Wolf appointed new CEO
(firmenpresse) - ProBioGen AG / Mergers&Acquisitions/Change of Personnel
16.06.2010 11:30
Dissemination of a Financial News, transmitted by
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Berlin, Germany, June 16, 2010: ProBioGen AG announced today that Minapharm
Pharmaceuticals, Cairo, has completed the acquisition of 95 % of the share
capital of ProBioGen, an internationally renowned German cell line
development and contract manufacturing specialist. The total purchase price
of EUR 30.4 million includes earn-out payments which are conditional upon
the achievement of defined milestones.
ProBioGen will continue to be a committed technology and service provider
for its global biopharmaceutical clients. The company will also continue to
develop proprietary technologies in the field of biopharmaceutical
products.
ProBioGen will emerge from this transaction in a stronger position to
deliver value to its customers due to the complementary expertise between
the two companies.
ProBioGen announced the appointment of Dr. Wieland Wolf as new CEO of the
company who joined from Rentschler Biotechnologie GmbH, where he was a
Member of the Management Board. Dr. Wolf is also President of the European
Association of Pharma Biotechnology. He takes over responsibilities from
Michael Schlenk, who joined the company in a Management Buy-In and who has
successfully developed the company's business and worked towards the exit
process.
Dr. Wafik Bardissi, Chairman and CEO of Minapharm, and newly elected
Chairman of the Supervisory Board of ProBioGen AG commented: 'After a long
history of successful cooperation with ProBioGen we highly appreciate its
reputation and dedication to service excellence, which will remain the
focus of its business. This transaction is a boost to Minapharm's thriving
biotech operations and fosters a futuristic model of innovation
internationally including the developing world.'
Hubertus Leonhardt, ProBioGen's past Chairman commented: 'ProBioGen could
not have hoped for a better partner. This business combination benefits
from a convincing strategic rationale and a raft of synergies and creates a
strong international force in the biologics sector.'
Dr. Volker Sandig, CSO of ProBioGen stated: 'The new ownership gives both
companies increased leeway to accelerate the growth of their businesses and
to strengthen their market position. Minapharm has a broad and exciting
product pipeline and we are looking forward to supporting the development
with our enabling technologies.'
HC Securities and Investment, Cairo, and Corporate Finance Partners CFP
BioConnect AG, Frankfurt/M., acted as joint advisors to Minapharm, whereas
Nomura Code Securities advised the sellers. Hengeler Mueller and Holme
Roberts&Owen acted as legal counsel to Minapharm and the sellers,
respectively.
###
Contact details:
ProBioGen AG: Dr. Gertraud Unterrainer
+49 30 924006-0
gertraud.unterrainer(at)probiogen.de
About ProBioGen - www.probiogen.de - Berlin-based ProBioGen is a well
established specialist in mammalian cell engineering and cell culture as
well as a leading innovator in the field of designer cell lines. The
company offers its customers a fully integrated and complete service
spectrum from gene to market supply,providing every step from protein
expression to cGMP manufacturing, including full project management
support. ProBioGen's innovation focuses on proprietary designer cell lines
for protein and vaccine production. The company's AGE1(R) producer cell
line can be broadly applied and offers outstanding productivity and yield
in cell culture. The company has been founded by Dr. Uwe Marx and Alexander
Nagel and has been backed by VC funds of SHS, CFH/LBBW-Gruppe, IBG and tbg.
About Minapharm - www.minapharm.com - Minapharm is headquartered in Cairo
with production facilities in the 10th of Ramadan City and is among the
leading prescription medicine companies in Egypt and the Middle East. The
company specializes in the manufacture and marketing of innovative
specialty pharmaceuticals and through its subsidiary Rhein Minapharm
Biogenetics, in the research, development and manufacturing of
biopharmaceuticals - www.rhein-minapharm.com. The biotech subsidiary
focuses on liver disease, thrombosis and hemostasis as core therapeutic
areas. With five therapeutic proteins already on the market and several in
the pipeline, Minapharm's competence lies in shortening the time to market
while adhering to the highest international ethical and safety standards.
Minapharm has a collective workforce of over 700 employees and is listed on
Egyptian Exchange (symbol: MIPH).
16.06.2010 11:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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Datum: 16.06.2010 - 11:30 Uhr
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