Life science group Sartorius has signed a definitive agreement for the acquisition of complete outstanding shares of UK-based company Albumedix from private investors in a deal valued at nearly $501.5m (£415m).
Sartorius will carry out the takeover through its French-listed subgroup Sartorius Stedim Biotech.
The acquisition of Albumedix is intended at bolstering the new advanced therapy solutions portfolio of Sartorius.
Albumedix, which was established in 1984, provides recombinant albumin-based solutions.
Recombinant human albumin is a vital competent for the manufacturing of new biopharmaceuticals, especially for modalities such as viral therapies and vaccines.
With the acquisition, the company will become part of the Bioprocess Solutions Division of Sartorius.
Albumedix CEO Jonas Møller and its executive management team will continue to lead the company.
Furthermore, the current 72,000ft² facility in Nottingham will be transformed into a centre of excellence for GMP-compliant critical raw material manufacturing and innovation.
Sartorius Bioprocess Solutions Division executive board member René Fáber said: “Albumedix will be an important addition to Sartorius’ advanced therapy solutions, particularly regarding our cell culture media business, as it will enable us to strengthen our position as a relevant supplier of innovative chemically defined media and critical ancillary materials.
“This market offers high growth potential due to the increasing regulatory requirements, as well as rising demand for the use of recombinant human albumin in near-patient applications.
“Albumedix will also add important formulation excipients to our vaccine production solutions, allowing us to expand our existing customer relationships and forge new ones.”
Subject to necessary approvals, the deal is anticipated to conclude before the end of the third quarter of this year.