Minapharm Pharmaceuticals Acquires Majority Stake in ProBioGen

Dr. Wieland Wolf Appointed New CEO

18-Jun-2010 - Germany

ProBioGen AG announced that Minapharm Pharmaceuticals, Cairo, has completed the acquisition of 95% of the share capital of ProBioGen, an internationally renowned German cell line development and contract manufacturing specialist. The total purchase price of EUR 30.4 million includes earn-out payments which are conditional upon the achievement of defined milestones.

ProBioGen announced the appointment of Dr. Wieland Wolf as new CEO of the company who joined from Rentschler Biotechnologie GmbH, where he was a Member of the Management Board. Dr. Wolf is also President of the European Association of Pharma Biotechnology. He takes over responsibilities from Michael Schlenk, who joined the company in a Management Buy-In and who has successfully developed the company's business and worked towards the exit process.

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