Comprehensive M&A data with integrated detailed company information
Boehringer Ingelheim to strengthen portfolio with GST
Posted on Monday, 27 July 2020 10:44
Boehringer Ingelheim has purchased Belgian veterinary biotechnology company Global Stem Cell Technology (GST).
The acquisition will accelerate the buyer’s development pipeline, while maintaining its focus on setting new standards of animal care.
Following the deal, GST will operate as a new research and development division within Boehringer Ingelheim.
Financial terms were not announced.
Headquartered in Evergem, GST develops and produces state-of-the-art stem cell products for dogs and horses.
The company uses stem cells from the blood of mammals, which can help translate regenerative medicines into clinical applications.
GST works with mesenchymal stem cells that have the capacity to form cartilage, bone, fat, muscles and tendons.
The group has been partnered with Boehringer Ingelheim since 2018 and is globally ranked within the top ten startups in animal health.
In 2019, the two companies developed Arti-Cell Forte, which was the first ever stem cell product in the veterinary segment to receive recommended marketing authorisation by the European Medicines Agency.
GST’s pipeline includes GST001, a drug used to treat degenerative joint disease in leisure and sport horses.
Eric Haaksma, head of global innovation for Boehringer Ingelheim Animal Health, said: “Stem cell research areas and regenerative medicine offer an exciting potential for the next wave of innovation we are actively pursuing.
“In addition, strengthening external partnerships to accelerate our innovative efforts and growth is one of the key elements of our strategy.”
Established in 1885, Boehringer Ingelheim is billed as the world’s second-largest animal health business.
The group has 10,000 employees and operates in more than 150 countries globally.
For the financial year ended 31st December 2019, Boehringer Ingelheim posted sales of EUR 19.00 billion, up 9.0 per cent from EUR 17.50 billion in the preceding 12 months.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 3,065 deals targeting scientific research and development services providers announced globally so far in 2020.
Gilead Sciences bought US-based Forty Seven for USD 4.90 billion in the most valuable of these.
© Zephus Ltd