BY Fraser Tennant
In a deal designed to strengthen its activities supplying cell and gene therapy companies, life science group Sartorius is to acquire French drugmaker Polyplus from private investors for approximately €2.4bn.
To finance the acquisition, Sartorius will receive a bridge loan facility from JP Morgan for a transitional period. Sartorius intends to refinance this loan with long-term financing instruments which might also include an equity component.
Founded in 2001 and based in Strasbourg, France, Polyplus has locations in France, Belgium, the US and China. The company has been expanding its focus beyond transfection reagents through acquisitions in adjacent technologies like plasmid design, and protein and plasmid manufacturing, broadening its upstream portfolio for gene therapies as well as gene-modified cell therapies.
“The innovative solutions of Polyplus are highly complementary to our portfolio, in particular to our offering of cell culture media and critical components for the development and manufacture of advanced therapies,” said René Fáber, member of the executive board and head of the bioprocess solutions division at Sartorius. “There are also strong synergies with our portfolio of downstream solutions for the manufacture of gene therapeutics.”
The combination of Sartorius’ and Polyplus’ portfolios creates a unique ability to optimise the total process workflow to deliver unparalleled value for cell and gene therapy customers, in an effort to make these critical therapies more affordable.
“This acquisition is a major milestone in the history of Polyplus, and a recognition of its innovative upstream market leadership position and our highly talented Polyplus teams around the world,” said Mario Philips, chief executive of Polyplus. “We would be excited to join forces with a world class bioprocess market leader as Sartorius.”
The transaction – which is expected to close during the third quarter of 2023 – is subject to customary conditions, including completion of the information and consultation of the works’ council and approval by regulatory authorities.
Mr Faber concluded: “As a leading supplier of critical components to produce cell and gene therapies, Sartorius and Polyplus together will be excellently positioned to play a significant role in the dynamic field of cell and gene therapy.”