OXFORD, UK, February 4th, 2016
PharmaVentures is pleased to announce that it acted as an advisor to Transgene on the sale of its biopharmaceutical manufacturing unit in Strasbourg, France, to the US company Advanced Bioscience Laboratories (ABL), Inc.
Transgene (Euronext: TNG), a member of Institut Mérieux, is a publicly traded French biopharmaceutical company focused on discovering and developing targeted immunotherapies for the treatment of cancer and infectious diseases.
ABL, also a member of Institut Mérieux, is a leading US contract research and manufacturing organisation. The Strasbourg acquisition will enable the company to establish ABL Europe and to increase its capabilities as a contract manufacturer with a stronger foothold within European Union.
Nigel Borshell, Vice President of PharmaVentures said: "We are delighted to have helped Transgene find a buyer for their biopharmaceutical manufacturing facility and to see its continued operation by ABL as a strategic and high value asset".
Fintan Walton, Chief Executive of PharmaVentures said: "Yet again the successful sale of this manufacturing facility in France shows that PharmaVentures is a leader in finding buyers for pharmaceutical companies wishing to divest assets."
For over 23 years, PharmaVentures has acted as advisor to over 700 pharmaceutical and biotechnology clients in transactions; covering licensing, mergers, acquisitions, divestments and joint venture activities for companies.