Sartorius Stedim Biotech, based in Aubagne, France, has signed an agreement to acquire the Swiss-based technology company Wave Biotech.
The two companies have worked closely together since 2006. In addition to their joint research projects, Sartorius Stedim Biotech has been exclusively marketing Wave's entire product range that covers various types of single-use bioreactors and further equipment for biopharmaceutical research and manufacture; sales revenue from Wave products during the current financial yearis expected to be around Euro 10m (£7.9m).
The acquisition, which is subject to clearance by the antitrust authorities, is expected to be completed in December 2008. Financial terms were not disclosed.
"We are acquiring a company with a strong track record in innovation and with competencies in fermentation that are complementary with our own breadth of expertise in this area," said Dr Joachim Kreuzburg, ceo of Sartorius Stedim Biotech. "In making this move, we are reinforcing our position in the fast-growing segment of single-use systems for cell cultivation over the long run."