Sartorius strengthens product portfolio for cell and gene therapies by acquiring a majority stake in CellGenix
GÖTTINGEN, Germany, July 2, 2021 /PRNewswire/ -- The life science group Sartorius, through its subgroup Sartorius Stedim Biotech, 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 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 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 Executive Board for the Bioprocess Solutions Division of Sartorius.
"For us, Sartorius 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 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 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 assumes no liability for updating such statements in light of new information or future events. This is a translation of the original German-language press release. Sartorius shall not assume any liability for the correctness of this translation. The original German press release is the legally binding version.
A profile of Sartorius
The Sartorius Group is a leading international partner of life science research and the biopharmaceutical industry. With innovative laboratory instruments and consumables, the Group's Lab Products & Services Division concentrates on serving the needs of laboratories performing research and quality control at pharma and biopharma companies and those of academic research institutes. The Bioprocess Solutions Division with its broad product portfolio focusing on single-use solutions helps customers to manufacture biotech medications and vaccines safely and efficiently. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In fiscal 2020, the company earned sales revenue of some 2.34 billion euros. At the end of 2020, nearly 11,000 people were employed at the Group's approximately 60 manufacturing and sales sites, serving customers around the globe.
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SOURCE Sartorius AG
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