BIA Separations d.o.o. (“BIA Separations” or “BIA”) has agreed to be acquired by Sartorius AG (“Sartorius”) and merge into its subgroup Sartorius Stedim Biotech.
Founded in 1998, BIA Separations has invented and commercialized the unique CIM (Convective Interaction Media) monolith chromatography technology. BIA Separations develops and manufactures market-leading products for purification and analysis of large biomolecules, such as viruses, plasmids and mRNA, which are used in cell and gene therapies and other advanced therapies. BIA’s technology for manufacturing scale purification is already used in production of the first commercialized advanced therapeutics and the company also has a strong presence with such novel drug candidates in the clinical pipeline. BIA has approximately 120 employees.
The Sartorius Group is a leading international partner of life science research and the biopharmaceutical industry. With innovative laboratory instruments and consumables, the Group’s Lab Products & Services Division concentrates on serving the needs of laboratories performing research and quality control at pharma and biopharma companies and those of academic research institutes. The Bioprocess Solutions Division with its broad product portfolio focusing on single-use solutions helps customers to manufacture biotech medications and vaccines safely and efficiently.
The transaction totals €360M, €240M of which will be paid in cash and €120M in Sartorius Stedim Biotech shares. Both parties have further agreed on three tranches of earn-out payments based on performance over the next five financial years. Expecting continued very strong double-digit sales growth over the next few years, BIA is forecasted to earn sales revenue of approximately €25M in 2020.
EC M&A acted as the exclusive financial advisor to BIA on this transaction.