Albumedix Ltd. recently announced that it has entered into a definitive agreement to be acquired by life science group Sartorius. The company claims that through this acquisition, Albumedix and Sartorius expand their solution space with complementary technologies and synergetic competencies, to deliver science-enabled solutions for the entire advanced therapy value chain.
“With a recombinant human albumin heritage stretching close to four decades, Albumedix has worked alongside its life science partners, to innovate and help enable the availability of numerous safer and more stable pharmaceutical products,” the company said in a statement.
The company will continue to be led by Albumedix’s CEO Jonas S. Møller and its executive management team, who remain dedicated to servicing the life science industry, it stated.
“We are delighted to be joining forces with Sartorius and look forward to accelerating our ambitious growth plans in delivering critical solutions to our global customers. We have been highly impressed with Sartorius’ knowledge and capabilities in the bioprocessing markets, and we are excited to join this purposeful journey. We believe Sartorius will bring tremendous value by strengthening our market reach and broadening our innovation capacity, as well as significantly scaling up our existing platform. We look forward to continuing our promise of empowering excellence in the life science industry,” said Jonas S. Møller, CEO of Albumedix in a statement.
According to the company, under the terms of the agreement, Sartorius, through its French-listed subgroup Sartorius Stedim Biotech, will acquire all outstanding shares of Albumedix Ltd. for an agreed purchase price of approximately £415 million. Moreover, the acquisition is subject to customary closing conditions and is expected to close before the end of the third quarter of 2022.
Meanwhile, William Blair acted as financial advisor to Albumedix, and Eversheds Sutherland provided legal counsel. Milbank LLP provided legal counsel to Sartorius in this transaction.