Oxford Biomedica agreed to acquire French CDMO ABL Europe, a subsidiary of Institut Mérieux, for 15 million euros ($16 million) in a deal that will give the drugmaker expanded viral vector capabilities.
The purchase is expected to be completed in the first quarter of 2024, the company said in a Dec. 4 release. Back in September, Oxford Biomedica said it had entered "exclusive negotiations" to purchase ABL.
“We will now be establishing a significant presence in the EU, while also freeing up Oxford Biomedica’s capacity to better serve our growing client demand worldwide,” Dr. Frank Mathias, Oxford Biomedica’s chief executive, said in the Monday release.
With the deal, Oxford Biomedica picks up production facilities in Lyon and Strasbourg, France. The buyout increases the company's capacity in process and analytical development and early-stage manufacturing. ABL Europe works on more than 10 cell and gene therapy programs spanning disease areas that include more than six different vector types.
Going forward, Oxford Biomedica will be able to offer multi-viral vector CDMO capabilities, boasting six manufacturing sites in EU, U.S. and U.K., the company said.
The push to buy ABL began at the same time Oxford increased its break-even forecast from the first half of 2025 to the second half of 2024 due to expected revenue growth from new and existing clients.