EUROAPI to Acquire BianoGMP to Strengthen its CDMO Expertise in the High-Growth oligonucleotide Market
29 Agosto 2023 - 7:00AM
Business Wire
- Reinforces EUROAPI’s position in the fast-growing
oligonucleotide market (+12% to +14%1 annual growth rate)
- Consistent with EUROAPI’s strategy to strengthen its CDMO
roadmap through vertical integration
- Enhances EUROAPI’s attractiveness for early-phase (preclinical
and phase 1) oligonucleotide projects thanks to BianoGMP’s strong
track record in innovation and scientific services to clients
- Commercial synergies expected in oligonucleotides through the
two companies’ strong complementarities
Regulatory News:
EUROAPI (Paris:EAPI) and the shareholders of BianoGMP (“Biano”),
a Contract Development and Manufacturing Organization (“CDMO”),
with recognized expertise in oligonucleotides, have signed a share
purchase and transfer agreement under which EUROAPI will acquire
100% of Biano shares. The total consideration for the transaction
is approximately €10 million, including the acquisition price
(upfront payment and deferred consideration) and Capex aimed to
increase Biano’s capacity to address larger scale and more complex
projects. The closing of the transaction is subject to customary
conditions precedent and is expected in the fourth quarter of 2023.
It will have limited impacts on EUROAPI’s 2023 financial
performance.
Created in 2017 by Prof. Tobias P�hlmann and Dr. Rolf Günther,
Biano is an oligonucleotide CDMO player focused on small-scale,
early-stage (pre-clinical to phase 1), complex and customized
projects, with a diversified client base in Europe and Asia. Biano
is located in Gera, Germany.
This acquisition will strengthen EUROAPI’s CDMO market position
in oligonucleotides by adding to its current offer a reputable
oligonucleotide CDMO pure player, with capacity to grow. The
planned expansion of EUROAPI’s Frankfurt oligonucleotide capacity
in 2025 will be complementary to Biano’s early-phase expertise and
enable larger-scale projects offering. In addition to opening
opportunities for cross-referral commercial synergies and
scientific cooperation, this transaction will further differentiate
EUROAPI’s value proposition to accompany a wider client base across
the whole oligonucleotide development continuum, from research to
commercialization.
Consistent with EUROAPI's entrepreneurial approach, Biano will
retain its corporate brand and become a EUROAPI company.
“The acquisition of Biano builds on EUROAPI’s strategy to
accelerate its CDMO roadmap through vertical integration and
strengthen its highly differentiated platforms, notably
oligonucleotide activity. By coupling Biano’s expertise and
capacity in early-stage projects with EUROAPI’s larger scale
capabilities, we aim to support our clients along the drug
development pathway as a one-stop shop,” said Karl Rotthier,
Chief Executive Officer of EUROAPI. “This bolt-on transaction
is a key milestone in our journey to become a leading, fast-growing
CDMO company.”
“I am thrilled to get the opportunity to continue to expand
Biano’s capabilities in order to grow with our customers and
provide material for later clinical phases," said Prof. Tobias
P�hlmann. "Biano has a track record of hands-on support on
innovative oligonucleotide developments, complex chemistries and
conjugation of peptides and lipids. With a client base in Europe
and Asia, it will benefit from EUROAPI’s sales and marketing teams
to expand into new geographies."
Oligonucleotides are large molecules with complex structures
which address a wide array of therapeutic applications including
oncology, central nervous system conditions, genetic disorders and
infectious or metabolic diseases. The global oligonucleotide market
is growing between +12% to +14% per year. It is almost entirely
outsourced to CDMOs. Approximately 600 molecules are currently
being developed in that market, including 500 in preclinical and
phase I, and approximately 100 in later phases2.
Oligonucleotides are a priority segment for EUROAPI’s CDMO
business. Last year, EUROAPI announced an initial investment of €18
million in new manufacturing equipment that would increase overall
peptide and oligonucleotide capacity at its Frankfurt site to
approximately 500 kilograms per year by 2025. EUROAPI is currently
working on 18 CDMO large molecule projects (including peptides,
oligonucleotides, and lipids) as part of a portfolio of 79
projects, as of June 30, 2023.
About EUROAPI
EUROAPI is focused on reinventing active ingredient solutions to
sustainably meet customers’ and patients’ needs around the world.
We are a leading player in active pharmaceutical ingredients with
approximately 200 products in our portfolio, offering a large span
of technologies, while developing innovative molecules through our
Contract Development and Manufacturing Organization (CDMO)
activities.
Taking action for health by enabling access to essential
therapies inspires our 3,450 people every day. With strong research
and development capabilities and six manufacturing sites all
located in Europe, EUROAPI ensures API manufacturing of the highest
quality to supply customers in more than 80 countries. EUROAPI is
listed on Euronext Paris; ISIN: FR0014008VX5; ticker: EAPI). Find
out more at www.euroapi.com and follow us on LinkedIn.
Forward-Looking Statements
Certain information contained in this press release is forward
looking and not historical data. These forward-looking statements
are based on opinions, projections and current assumptions
including, but not limited to, assumptions concerning the Group’s
current and future strategy, financial and non-financial future
results and the environment in which the Group operates, as well as
events, operations, future services or product development and
potential. Forward-looking statements are generally identified by
the words “expects”, “anticipates”, “believes”, “intends”,
“estimates”, “plans” and similar expressions. Forward looking
statements and information do not constitute guarantees of future
performances, and are subject to known or unknown risks,
uncertainties and other factors, a large number of which are
difficult to predict and generally outside the control of the
Group, which could cause actual results, performances or
achievements, or the results of the sector or other events, to
differ materially from those described or suggested by these
forward-looking statements. These risks and uncertainties include
those that are indicated and detailed in Chapter 3 “Risk factors”
of the Universal Registration Document approved by the French
Financial Markets Authority (Autorité des marchés financiers, AMF)
on April 14, 2023, under number R.23-009 and the Amendment to
Universal Registration Document approved by the AMF on April 25,
2023 under number R.23-015. These forward-looking statements are
given only as of the date of this press release and the Group
expressly declines any obligation or commitment to publish updates
or corrections of the forward-looking statements included in this
press release in order to reflect any change affecting the
forecasts or events, conditions or circumstances on which these
forward-looking statements are based.
1
API synthesis market; 2019A-2024E CAGR.
Sources: company estimates, interviews with industry experts
conducted in 2021. These estimates are subject to risks and
uncertainties.
2
Computations made by EUROAPI on the basis
of data presented in Citeline Pharma Project Database
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230828172870/en/
Media Relations: Laurence Bollack Mob.: +33 (0)6 81 86 80
19 mr@euroapi.com
Investor Relations: Sophie Palliez-Capian Mob.: +33 (0)6
87 89 33 51 sophie.palliez@euroapi.com
Grafico Azioni Euroapi (EU:EAPI)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Euroapi (EU:EAPI)
Storico
Da Mag 2023 a Mag 2024