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Servier completes deal with Symphogen
Posted on Friday, 05 June 2020 13:42
France-based Servier has acquired Danish biotechnology company Symphogen for an undisclosed sum.
Upon completion, the target will continue to operate independently from its headquarters in Ballerup.
Symphogen focuses on developing therapeutics for the oncology and immune-oncology segments.
Its pipeline includes antibodies, such as Sym004, Sym015 and Sym023, which are used to treat colorectal and lung cancer, as well as solid tumours.
The drugs can identify and bind antigens found in bacteria, viruses and cancer cells and recruit part of the immune system to neutralise the harmful cells.
Symphogen’s products are currently undergoing clinical trials and one its infectious disease projects, Sym009, is being developed by US biotechnology company Genetech.
Following the transaction, the target will operate as the acquiror’s antibody centre of excellence in several therapeutic areas, including oncology.
Claude Bertrand, executive vice president of Servier’s research and development (R&D) division, said: “This efficient antibody discovery and research platform of Symphogen will strengthen our R&D capabilities and pipeline in line with our aim of making life-saving treatments available to a greater number of patients across the world.”
Headquartered in Suresnes, the acquiror is a pharmaceutical company which focuses on producing therapeutics for cardiovascular diseases, cancers, diabetes and immune-inflammatory conditions, among others.
The group’s 1,500 generic medicines are prescribed in more than 140 countries worldwide, including the UK, the US, Italy and France.
During the financial year ended 30th September 2019, Servier generated revenue of EUR 4.62 billion, up 10.5 per cent from EUR 4.18 billion in the preceding 12 months.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 543 deals targeting pharmaceutical preparation manufacturers announced globally in 2020 to date.
Yunnan State-owned Equity Operation Management bought a 25.1 per cent stake in China-based Yunnan Baiyao Group for CNY 26.98 billion (USD 3.79 billion) in the most valuable of these.
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