Servier has entered into a definitive agreement with the owners of Symphogen, a therapeutic antibody discovery specialist, to acquire 100% of Symphogen's share capital.
The acquisition, the result of a process that has been underway for several months now, will strengthen Servier's antibody capabilities and ensure that Symphogen's antibody discovery and early-development platform is fully utilised.
Under the terms of the agreement, Servier will gain full ownership of Symphogen's proprietary pipeline of oncology and immuno-oncology programmes and Symphogen's antibody discovery and development platform.
Following completion of the acquisition, Symphogen will become Servier's antibody centre of excellence for its therapeutic areas. Symphogen will operate as a standalone organization within the Servier Group, maintain its headquarters in Ballerup, Denmark, and continue to rely on its current and experienced employees.
"The acquisition of Symphogen is an important step for Servier to meet its strategic ambitions to become a recognised player in oncology. Antibody-based therapies remain a key therapeutic modality within oncology and immuno-oncology, and with Symphogen's strong antibody capabilities, this acquisition will boost significantly our R&D in oncology and in our other therapeutic areas," said Olivier Laureau, President of Servier. "We thoroughly look forward to welcoming Symphogen to the Servier Group following the closing of the deal."
Servier and Symphogen have been engaged in a strategic immuno-oncology collaboration for more than 2 years now.
Bernhard Ehmer, Symphogen Chairman of the Board of Directors, said: "This transaction is a key milestone for Symphogen and its owners as it validates the strength of our oncology portfolio and attractiveness of our antibody technologies. Our existing strategic collaboration with Servier has demonstrated the strategic fit between the two organisations and I am convinced that Servier is well-positioned to further enhance the potential of Symphogen."
The total amount of the transaction was not disclosed by either party.
