GENEVA, SWITZERLAND--(Marketwire - November 17, 2010) - Ares Life Sciences, a health care investment firm established by the Bertarelli family announces that it has acquired Wendel's equity interest in Stallergenes, representing 45.86% of the share capital and voting rights of Stallergenes, at a price of EUR59.00 per share.
Ares Life Sciences to support future development of Stallergenes
Stallergenes is one of Europe's leading biopharmaceutical companies and a world leader in sublingual immunotherapy. Ares Life Sciences will seek to work with Stallergenes' management to ensure the company's continued success and accelerate its development.
Jacques Theurillat, CEO of Ares Life Sciences commented: "Ares Life Sciences is a long-term investor in health care companies. We are delighted to be a major shareholder in Stallergenes, a leader in the allergy treatment market with strong fundamentals, proven technology and an experienced management team. As Stallergenes prepares to launch new products and enter new markets, we believe that Ares Life Science's expertise will provide the support needed to help the company realise its full potential in the future."
Planned Tender offer
In compliance with the Autorite des Marches Financiers (AMF) regulation, Ares Life Sciences will file with the AMF a mandatory tender offer for all the remaining outstanding shares of Stallergenes, at the same price of EUR59.00 per share in cash. Ares Life Sciences does not plan to effect a squeeze out or delisting of the company following this offer.
About Ares Life Sciences
Ares Life Sciences is a healthcare-focused investment firm, whose financial backer is the Bertarelli family. Its strategy is to focus on key life sciences sectors, mainly: pharmaceuticals and biotechnology, medical diagnostics, and medical technology. Ares Life Sciences has a long-term view on investments and a core element of its investment strategy is to make available to its portfolio companies the collective experience and network of its team. Ares Life Sciences' portfolio currently includes investments in Esaote, Euromedic, Santhera. Stallergenes and Broncus Technologies.
Stallergenes is a European biopharmaceutical laboratory specialising in treatments by immunotherapy for the prevention and treatment of allergy-related respiratory conditions, such as rhino conjunctivitis, rhinitis and allergic asthma. A pioneer and a leader in immunotherapy treatments by sublingual administration, Stallergenes dedicated more than 20% (gross) of its sales in 2009 to its Research and Development activities, which are primarily directed at developing a new therapeutic range enabling the provision of immunotherapy treatments by sublingual tablets. Stallergenes achieved 2009 sales of EUR193 million, with over 500,000 patients treated with Stallergenes products.