Oxford Biomedica acquires ABL Europe for €15m
Betsy Goodfellow | January 30, 2024 | News story | Business Services | ABL Europe, Oxford BioMedica, Pharmacy, acquisition
Oxford Biomedica has announced that it has completed the acquisition of ABL Europe from Institut Mérieux. This follows announcements on 20 September 2023 and 4 December 2023.
This acquisition is intended to strengthen Oxford Biomedica’s position as a leading cell and gene therapy CDMO, as well as broadening its international development, manufacturing and testing presence, services and capacity. It is hoped that this will also establish a stronghold for the company within the EU with facilities in Lyon and Strasbourg, France.
ABL Europe was acquired for €15m, including €10m of pre-completion cash funding from Institut Mérieux.
Dr Frank Mathias, chief executive officer of Oxford Biomedica, commented: “Welcoming ABL Europe into the OXB family is an important step to unlock our ability to serve more clients with existing and new technologies, expanding development capacity, and further broadening our geographical presence. We are also delighted to have Institut Mérieux as a long-term shareholder as we continue to solidify our position as a world leading pure-play quality and innovation-led global cell and gene therapy CDMO.”
Michel Baguenault, chief executive officer of Institut Mérieux, added: “Institut Mérieux is delighted that ABL Europe is becoming part of OXB, a world leading cell and gene therapy CDMO. Our investment reflects our confidence in OXB’s potential to ensure ABL’s long-term development. This transaction opens up exciting growth opportunities for ABL Europe, that will significantly expand their offering to biopharma and biotech companies, and ultimately help more patients.”
Betsy Goodfellow
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