Oxford Biomedica plc announced that it has completed the acquisition of ABL Europe SAS from Institut Mérieux SA.
The acquisition of ABL Europe, a pure-play European CDMO, strengthens Oxford Biomedica's position as a world-leading cell and gene therapy CDMO. This strategic move broadens the Company's international development, manufacturing and testing presence, services and capacity by establishing a strong footprint within the European Union with facilities in Lyon and Strasbourg, France. In addition, the acquisition increases Oxford Biomedica's capacity in process and analytical development and early-stage manufacturing across Adenovirus, Lentiviral vectors, AAVs and with this acquisition, MVA and Vaccinia.
Pursuant to the transaction terms, as previously disclosed, ABL Europe has been acquired for a consideration of €15million, (including the value of €10million of pre-completion cash funding from Institut Mérieux in ABL Europe) in exchange for 3,149,374 new ordinary shares in the Company (representing 3.2 per cent of the Company’s enlarged issued share capital) which have been issued at a price of 407.4p. The shares have this morning been admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of London Stock Exchange plc.
In accordance with the terms of the transaction, Institut Mérieux intends to become a major shareholder in Oxford Biomedica and prior to today’s completion of the acquisition of ABL Europe had already built a stake of 3.3 per cent of the Company’s then issued share capital through purchases in the open market, with the intention of owning approximately 10.0 percent of the Company’s ordinary shares by the end of Q3 2024.
The Company confirms that there is no material change to the 2023 financial guidance provided at the Interim Results in September previously reaffirmed in the Business Update on 7 December 2023. The Company will in due course issue medium term financial guidance to include the impact of the acquisition.
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