Date: 2013-04-15
Type of information: Company acquisition
Acquired company: Planet Biopharmaceuticals (USA)
Acquiring company: Ares Life Sciences (Switzerland)
Amount:
Terms: Ares Life Sciences, a healthcare-focused investment group, has signed a definitive agreement to acquire 100% of the share capital of Planet Biopharmaceuticals, including its wholly owned subsidiary Antigen Laboratories, a producer of allergen extracts, who works closely with the ENT (Ear, Nose and Throat) specialist community in the United States. Closing of the transaction is subject to certain closing conditions.
Details: Last month Ares has signed an agreement to acquire Greer Laboratories, a leader in U.S. allergy immunotherapy (AIT) market. The acquisition of Antigen Laboratories is a continuation of Ares’ strategic focus on the U.S. AIT market. The company is also the majority shareholder of the French based Stallergenes, a pioneer in immunotherapy treatments by sublingual administration. Ares believes there is significant growth potential in the AIT business globally, particularly in the US which currently only represents 10% of the European market and is expected to grow significantly over the next few years.
Related: Allergy
