Date: 2014-06-03
Type of information: Company acquisition
Acquired company: Genhelix plant (Spain)
Acquiring company: mAbxience (Switzerland)
Amount: €10 million
Terms: * On June 3, 2014, mAbxience, a company specialised in biosimilar medicines development and manufacturing that belongs to Spanish-based Chemo Group, has purchased 100% of the Genhelix biopharmaceutical plant, located in León. The operation is one of the biggest investments ever made by a Spanish company in a biotechnology project, for a purchase price of 10 million euros.
Details: With its head offices in Switzerland, mAbxience is a biotechnological company that belongs to Spanish-based Chemo Group. It specialises in the development and manufacturing of biosimilars. The company intends to deploy an ambitious investment plan in Genhelix plant, which will exponentially raise its production capacity and more than triple its current staff team. “Our aim is to expand our manufacturing capacities in other geographical areas through a plant that will enable us to strengthen our market opportunities in Europe and Asia. Thanks to the technology used, we can considerably increase productivity as well as reduce manufacturing costs, which in turn may lead to the 1,500 million euros of savings that the biosimilar authorities are hoping for between now and 2020", asserted Hugo Sigman, CEO of the Insud Group and founder of Chemo.
With the incorporation of Genhelix, the Chemo Group is strengthening its global presence in Spain, where it already had commercial offices in Barcelona and Madrid, R&D centres in Azuqueca de Henares and León, and manufacturing plants in Alcalá de Henares, Azuqueca de Henares and León. This represents its first industrial presence in Spain in the area of biosimilar medicines. mAbxience also owns the PharmADN and Sinergium Biotech plants, both located in Buenos Aires, Argentina.
Related: bioproduction biosimilar drugs
