Sartorius Stedim Biotech made a cash offer to acquire the UK company TAP Biosystems Group plc (TAP Biosystems) through its wholly owned subsidiary Sartorius Stedim Biotech GmbH. The proposed transaction, which is subject to customary closing conditions, including the approval of TAP’s shareholders, values the equity of TAP Biosystems at approximately €33 million. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close at the end of 2013.
In making the announcement, Joachim Kreuzburg, the Chief Executive of Sartorius Stedim Biotech, stated, “TAP Biosystems’ fermentors are a great fit extending our reach into the small scale cell culture applications. Adding capabilities in the early steps of upstream bioprocessing will enable us to provide our biopharma customers highly effective and scalable solutions to accelerate cell line selection, speed-up process development and ultimately help them bringing their biologics to market faster”.
TAP Biosystems plc specializes in the design and development of small-scale, multi-parallel fermentation systems particularly for biopharmaceutical applications. Founded in 1987, the company is headquartered in Royston, UK, and has a sales and support facility near Wilmington, Delaware, USA. TAP Biosystems generated sales revenue of approx. €26 million in 2012/13 and employs about 160 people worldwide.