Germany-based healthcare company Fresenius Kabi has agreed to acquire a 55% stake in Argentinian biopharmaceuticals company mAbxience.
Under the terms of the deal, the healthcare company will make an upfront payment of €495m, along with commercial and development milestone payments.
Fresenius Kabi can also acquire the remaining shares in mAbxience, under certain terms.
Established in 2010, mAbxience is a biopharmaceutical company engaged in the development and manufacturing of biological drugs and biosimilars.
It offers two biosimilar products, Rituximab and Bevacizumab, and has several therapeutic molecules across immunology and oncology, to be launched from 2024 through 2029.
Fresenius Kabi said that the transaction is in line with its Vision 2026 strategy, which targets expanding along the value chain and enhancing its existing biosimilars pipeline.
With investment in mAbxience, the company will strengthen its footprint in biopharmaceuticals, and benefit from mAbxience’s manufacturing capabilities and facilities.
Fresenius CEO Stephan Sturm said: “Through these acquisitions, we are further strengthening and leveraging Fresenius Kabi’s position, as both perfectly complement the company’s growth businesses in biopharmaceuticals and medical technology.
“We will continue allocating capital in a targeted manner to rigorously pursue the recently presented growth strategy of our health care Group which has defined Fresenius Kabi as a top priority.”
Simultaneously, Fresenius Kabi has signed another agreement to acquire Ivenix, a US-based medical device maker specialised infusion therapy.
Under the terms of the deal, the company will make an upfront payment of $240m, along with milestone payments, based on achieving commercial and operating targets.
Ivenix is a privately held medical device company that has developed an advanced infusion system including a large volume pump (LVP).
Its Infusion System was commercially rolled out in late 2021 after it has received regulatory approval from the US Food and Drug Administration (FDA).
The acquisition will combine Ivenix’s hardware and software products with Fresenius Kabi’s offerings in intravenous fluids and infusion devices.
Fresenius Kabi said that the deal will provide access to growth in the growing infusion therapy market and sustainable growth in the MedTech space.
Both the transactions are anticipated to complete by mid-2022, subject to regulatory approvals and other customary closing conditions.
Fresenius Kabi CEO Michael Sen said: “Expanding our MedTech business and broadening our presence in Biopharmaceuticals are key to our Vision 2026 program. Today’s announcements fit squarely into our plans.
“With the acquisition of Ivenix, we add the next-generation infusion therapy platform; we complement and strengthen our existing infusion therapy offering and we create a superior portfolio for the US market.”
