MorphoSys Acquires Biogenesis Group in U.K. and U.S.A.
Acquisitions Position MorphoSys within Top 5 of European Research Antibody Suppliers
MorphoSys AG announced the acquisition of two privately held companies, Biogenesis Ltd. (Poole/U.K.) and its sister company Biogenesis Inc. (Brentwood, New Hampshire/U.S.A.). With more than 20 years of experience in antibody development and manufacturing, and a comprehensive antibody catalogue, the combined Biogenesis group represents one of the larger European suppliers of antibodies to the life sciences research community. Research antibodies are a fast growing market accounting for global sales in excess of USD 800 million in 2004. Combined with MorphoSys' existing efforts in this area, the acquisition will establish MorphoSys as one of the top 5 European suppliers of research antibodies. The final agreements, signed on January 20, 2005, specify the purchase of 100% ownership of Biogenesis Ltd. and Biogenesis Inc. by MorphoSys for GBP 5.25 million, less net debt of approximately GBP 700,000, in cash. The two Biogenesis companies will become wholly owned subsidiaries of MorphoSys AG.
The acquisition of the Biogenesis group provides MorphoSys with immediate access to new market channels for its innovative HuCAL® antibody technology. As the HuCAL® technology provides a quantum leap in speed and flexibility over traditional antibody generation, the combined company will be able to deliver highly specific recombinant antibodies to customers significantly faster than existing animal-based methods.
MorphoSys AG Chief Executive Officer Simon Moroney, and Chief Financial Officer Dave Lemus retain their current respective positions within the enlarged MorphoSys group of companies. The acquired Biogenesis companies will be integrated with MorphoSys� existing research antibody business unit, Antibodies by Design. The enlarged research antibodies unit will be led by Dieter Lingelbach, currently Senior Vice President at MorphoSys AG and head of Antibodies by Design. The new unit will run alongside the existing therapeutic antibodies unit, which comprises the largest part of the MorphoSys business. John Coward, the present Managing Director of Biogenesis Ltd., will become Chairman of the U.K. subsidiary and Joan Poehlman, current President of Biogenesis Inc., will serve as President of the U.S.A. subsidiary.
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
Most read news
More news from our other portals
See the theme worlds for related content
Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous
Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous
