Madrid, 31 March 2022
Insud Pharma announced today that it has entered into an agreement with Fresenius Kabi. Under the terms of the agreement Fresenius Kabi will acquire 55% of mAbxience, the global fully-fledged biotech company of the Spanish group.
Founded in 2010, mAbxience has over a decade of experience in the development, manufacture, and commercialization of biopharmaceuticals. The company operates three state-of-the-art and R&D manufacturing facilities, located in Spain and Argentina, and has been developing a range of biopharmaceutical products focused on multiple therapeutic areas. mAbxience also offers contract development and manufacturing (CDMO) services to customers.
The company has successfully established alliances with key partners which have enabled multiple biosimilars to be launched across international markets allowing patients access to high quality biopharmaceutical products on a global basis.
As a result of this agreement, mAbxience will continue its ambitious growth plans and will keep its well-defined corporate identity, and team of around 600 professionals, ensuring continuity of its current business strategy. The boards of directors of both companies have unanimously approved the transaction, which is expected to close by midyear 2022, subject to regulatory and other conditions customary for a transaction of this type.
With this alliance, Insud Pharma plans to accelerate its biotech unit, bringing new and exciting opportunities to mAbxience customers and increasing its research activities - at the beginning of May, it is expected to open a new R&D facility in Spain-.
Furthermore, this transaction will be meaningful for the Spanish group Insud Pharma, which will continue to grow and invest worldwide, whilst entering into new activities.
“We’re delighted to announce our combination with Fresenius Kabi for the future development of mAbxience. This collaboration recognizes mAbxience’ s capabilities in biopharmaceuticals and our strong team of dedicated employees. This transaction is a tremendous opportunity to add further value to the industry, to make mAbxience bigger and stronger and to collaborate and work together with a company such as Fresenius Kabi”, stated Lucas Sigman, CEO at Insud Pharma.
“mAbxience is the perfect example of how innovation, cutting-edge R&D and manufacturing platform technology is used to deliver high quality medicines to patients, provide cost-effective alternatives to healthcare systems and guarantee its sustainability. Today’s announcement is testament to the hard work of our people that have grown mAbxience from its inception to the leading business it is today”, stated Sigman.
He continued “Furthermore, this is also great news for Insud Pharma. This transaction will give our company the chance to continue investing more and to open the door to faster expansion into new areas and opportunities. As joint partners with Fresenius Kabi, we fully expect to further accelerate our mission to deliver affordable medicines to patients worldwide”, stated Sigman.
Emmanuelle Lepine, mAbxience CEO, said “We believe this new strategic partnership with Fresenius Kabi represents the best possible next step in line with mAbxience´s strategic growth plan. This partnership will allow the further progression of our development pipeline and will enable the acceleration of our capacity expansion, both of which will benefit patients, customers, and health systems. This new stage in the evolution of our company will bolster opportunities to grow our biopharmaceutical platform in key areas of high technological development and manufacturing, as well as accelerate access in strategic markets, adding a key collaboration to our already strong global partnership base”.
She continued “Driven by a shared value in people and purpose, this partnership with Fresenius Kabi will enable mAbxience to advance towards its vision of bringing biopharma solutions that are Affordable, Accessible and Across the globe. We are convinced that this partnership will enhance our commitment to the long-term sustainable growth potential for the business and will be highly beneficial to the growth and development of the whole team”.
Goldman Sachs acted as exclusive financial advisor to Insud Pharma, while Baker McKenzie acted as legal advisor.