Sartorius Stedim Biotech acquires UK-based CRO, BioOutsource
Takeover expands SSB's service portfolio
Aubagne, April 17, 2015 – Sartorius Stedim Biotech (SSB), a leading international supplier for the biopharmaceutical industries, today acquired the Scottish company BioOutsource Ltd. The privately owned company based in Glasgow, UK, has been operating in the biotechnology market since 2007, and in the last twelve months earned revenue of around 9 million euros with approx. 85 employees. The contractual parties agreed not to disclose any further details of the transaction.
BioOutsource provides contract testing services to global biopharmaceutical clients in order to monitor the safety and quality of biologic drugs and vaccines. In particular, the company specializes in offering a comprehensive suite of services for the fast growing biosimilar industry. Its assays are used in the early phases of drug characterization and comparability and for lot release testing of novel therapeutics. This acquisition will develop SSB's service offering throughout the drug development pathway.
Reinhard Vogt, member of SSB's Board, commented, "By adding contract testing services, we will be able to support our biopharma clients even better in their drive to fast-track their new drug candidates through the development and clinical test phases and facilitate lot release testing in large scale manufacturing. The highly qualified team at BioOutsource will ideally complement our expertise, and we are looking forward to working with them."
"We are delighted to have found a strong partner with a broad customer base, international reach and a powerful brand. With Sartorius Stedim Biotech we will be able to scale our business to the next level and invest in new adjacent services, said Gerry MacKay, CEO of BioOutsource. "As a part of this group, we will have the opportunity to work with more international customers particularly in areas like the United States and Asia where there is significant investment in biosimilar development and manufacturing."
This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties.