Sartorius Stedim Biotech strengthens product portfolio for cell and gene therapies by acquiring a majority stake in CellGenix
AUBAGNE, France, July 2, 2021 /PRNewswire/ -- Sartorius Stedim Biotech, a leading international partner of the biopharmaceutical industry, has acquired a majority stake in the reagent manufacturer CellGenix GmbH. The company based in Freiburg, Germany, and with a sales subsidiary near the biotechnology hub in Boston, Massachusetts, USA, produces and markets cell culture components, such as growth factors, cytokines and media in GMP quality for manufacturing cell and gene therapy products.
Sartorius Stedim Biotech has initially acquired 51 percent of this company, which has been privately owned until now, for around 100 million euros in cash. At the beginning of 2023 and 2026, Sartorius Stedim Biotech plans to acquire the remaining shares of CellGenix. Founded in 1994 at the University Medical Center of Freiburg, CellGenix currently employs some 70 people and generated sales of more than 20 million euros in 2020, achieving a very significant double-digit EBITDA margin.
"CellGenix has an excellent reputation on the market and brings in high technological expertise and considerable regulatory experience in one of the fastest-growing fields of the biopharma sector. Together, we will support our customers even better in fast-tracking their drug candidates efficiently through the various steps in the development of medicines so that innovative therapies can reach patients faster," said René Fáber, member of the Board of Directors of Sartorius Stedim Biotech.
"For us, Sartorius Stedim Biotech is an ideal partner with a highly complementary product portfolio that will accelerate our development with its global sales team, enabling us to usher in our next phase of growth," added Felicia Rosenthal, CEO and co-founder of CellGenix.
Sartorius Stedim Biotech plans to expand the Freiburg site substantially and to establish it as a center of excellence within the group in the areas of development and manufacture of quality critical raw materials for the cell and gene therapy market.
This press release contains forward-looking statements about the future development of the Sartorius Stedim Biotech Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius Stedim Biotech assumes no liability for updating such statements in light of new information or future events. This is a translation of the original French-language press release. Sartorius Stedim Biotech shall not assume any liability for the correctness of this translation. The original French press release is the legally binding version.
A profile of Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solutions provider, the company helps its customers to manufacture biotech medications safely, rapidly and economically. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In 2020, the company employed more than 7,500 people, and earned sales revenue of 1,910 million euros.
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SOURCE Sartorius Stedim Biotech S.A.
Company Codes: EuronextParis:DIM, Frankfurt:56S1, LSE:0RG8, OTC-PINK:SDMHF, RICS:STDM.PA, ISIN:FR0013154002, Dusseldorf:56S1, Stuttgart:56S1, Berlin:56S1, Vienna:DIM, OTC-BB:SDMHF