Oxford BioMedica has signed an agreement to acquire contract development and manufacturing organisation (CDMO) ABL Europe from Institut Mérieux subsidiary TSGH SAS in a €15m ($16.27m) deal.
The signing of the sale and purchase agreement comes after the parties entered exclusive negotiations for the proposed acquisition in September 2023.
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Oxford Biomedica will offer its ordinary shares for more than 407.4p per share under the acquisition deal.
ABL Europe develops and produces solutions such as viruses for gene therapy, oncolytic viruses and vaccine candidates for biotechs and biopharma companies.
The CDMO is engaged in more than ten cell and gene therapy programmes in a wide range of disease areas, including more than six distinct types of vectors.
The latest acquisition will aid Oxford Biomedica in broadening its operations as a complete CDMO in the cell and gene therapy field.
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By GlobalDataThe company will gain access to viral vector CDMO capabilities which will be available at its six manufacturing facilities in the European Union (EU), the US and the UK.
Oxford Biomedica will also widen its presence in the EU through plants in Lyon and Strasbourg, France.
The deal will aid the company in growing its capacity in process and analytical development along with early-stage production and meet growing customer demand for process development.
The deal is expected to conclude in the first quarter of 2024.
Oxford Biomedica CEO Dr Frank Mathias stated: “The acquisition of ABL Europe strengthens Oxford Biomedica’s operations into a global pure-play CDMO in the cell and gene therapy space.
“We will now be establishing a significant presence in the EU, while also freeing up Oxford Biomedica’s capacity to better serve our growing client demand worldwide.
“We look forward to realising the operational and commercial synergies of this acquisition in 2024 and beyond.”
Institut Mérieux has committed to offering Oxford Biomedica €20m in additional funding to cover capital costs and possible operational losses linked to the deal.
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