News & Press
Cisbio Bioassays, in partnership with Argos Soditic, makes a major step forward in its development
Paris and Codolet, France, November 18th 2013. The funds managed by Argos Soditic announce the acquisition, together with the management, of Cisbio Bioassays. This cutting-edge biotechnology company is the leader in the field of products and services for human in vitro diagnostics and pharmaceutical research.
Through this Management Buy-Out (MBO) operation Cisbio Bioassays becomes independent, with its spin-off departure from the Belgian group IBA.
The acquisition represents a major step forward in the history of Cisbio Bioassays. The company’s 25 years of experience have given it a recognized position as a major player in the world of diagnostics and biotechnologies. The arrival of Argos Soditic opens up prospects for strategic growth, and will enable the company to strengthen its market positions. Confident in Cisbio Bioassays' assets, Argos Soditic is accompanying the management team in implementing its strategic plan, focused on innovation, the launching of new products and international development.
"Cisbio Bioassays is an innovative company, recognized for the quality of its services and products. It has the advantage of a remarkable international exposure, with over 85% of its turnover coming from outside France. The outstanding qualities of the management team, as well as the excellent company culture throughout Cisbio, have been crucial points in this takeover and in the implementation of a spin-off operation which proved to be particularly complex,” declared Gilles Lorang, a partner in Argos Soditic.
"We unanimously welcome the participation of Argos-Soditic in our MBO," added Berthold Baldus, Cisbio Bioassays' CEO. "With their more than 20 years of investment experience, proven success with their funds, and their highly dedicated team, we feel well supported in reaching for our goal to be a recognized global leader in specialized diagnostic biomarkers and innovative solutions for the discovery of new therapeutic drugs."
Cisbio Bioassays and Orion Diagnostica Oy Sign an Agreement for Steroid Radioimmunoassays
Cisbio Bioassays plans to produce and market high quality ultrasensitive Estradiol, Cortisol and Testosterone assay kits
October 07, 2013 06:00 PM Eastern Daylight Time
CODOLET, France & TURKU, Finland--(BUSINESS WIRE)--Cisbio Bioassays (www.cisbio.com), global developer of in vitro diagnostic kits and of products and services used in drug discovery, and Orion Diagnostica Oy (www.oriondiagnostica.com), an in vitro diagnostics company specializing in development, production and sales of diagnostic test systems, announced that they have signed an agreement covering raw materials and related documentation for the manufacturing of ultrasensitive Estradiol, Cortisol and Testosterone radioimmunoassays. Cisbio Bioassays plans to start the manufacturing and worldwide marketing of products based on these assets in 2014. Until then, the assays concerned remain available from Orion Diagnostica Oy, under the brand name Spectria.
“These assays demand the high quality manufacturing standards which Cisbio Bioassays sets for its radioimmunoassay production. Adding them to our range will strengthen our leadership in this field“ said Berthold Baldus, President, Cisbio Bioassays. “This will undeniably facilitate access to a more complete assay offering for our customer network worldwide".
“We are delighted that through this arrangement Orion Diagnostica Oy’s long term global customers for Spectria radioimmunoassay will have a possibility for continuation with products manufactured by our long term partner.” Jaakko Rissanen, President, Orion Diagnostica Oy said.
About Orion Diagnostica Oy
Orion Diagnostica Oy is part of Orion Group, the leading health care company in Finland. Orion Diagnostica develops, manufactures and markets diagnostic tests. It specializes in easy-to-use, cost-effective clinical diagnostic tests and hygiene monitoring solutions designed to improve health care effectiveness and individual well-being. The special focus is on products for primary health care that enable consultation, testing and treatment decisions to be completed during a single patient visit. Visit www.oriondiagnostica.com for further information.
IBA FINALIZES ACQUISITION OF CIS BIO INTERNATIONAL BY BUYING OUT THE IRE'S SHARES:
Embargo until 5:40 (Belgian time) – May 29, 2008
Louvain-la-Neuve and Fleurus, Belgium, May 29, 2008 – IBA (Ion Beam Applications S.A.: Reuters IBAB.BR and Bloomberg IBAB.BB) announced today that it has decided to exercise its option to purchase 80.1 percent of the indirect interest held by IRE (Institut National des Radioéléments, Fleurus, Belgium) in CIS bio International (CISBIO).
The purchase price will be around EUR 20 million, with 50 percent to be paid in cash and 50 percent in IBA stock in order to further strengthen the historic partnership between IBA and IRE, one of its founding shareholders. This transaction will strengthen IRE’s position as IBA’s second largest shareholder, with almost 6 percent stake in the Group. The cash payment will be used to seed projects useful to the joint development of IRE, CISBIO, and IBA. As part of this operation, IBA and IRE have also agreed to develop various partnerships thus optimizing areas of synergy by pooling know-how and scientific, technical and commercial supports.
CISBIO is a European and world leader in biomedical technology—specifically, in vitro medical diagnostics and the radioactive marking of molecules used in nuclear medicine therapy and imaging. It is also at the international forefront for the in vitro screening of new drugs for the pharma and biotech industries, thanks to its HTRF® technology. Its products are used in several fundamental fields of medicine (oncology, cardiology, rheumatology, pneumology, and endocrinology). Headquartered in Saclay, near Paris, France, the company has around 600 employees and posted consolidated revenues of nearly EUR 120 million in 2007.
“Bringing CISBIO into the IBA Group is a very important step for our company,” said Pierre Mottet, Chief Executive Officer of IBA. “We believe that synergies with IBA will enable continued growth in CISBIO’s various businesses and will allow our two entities to take a leadership position in the field of pharmaceuticals. This acquisition makes IBA one of the major players in the radiopharmaceutical industry in Europe. More specifically, it has the following objectives:
- Strengthening our R&D capacity to develop new molecular imaging molecules, by incorporating CISBIO’s scientific teams;
- Strengthening our positron emission tomography (PET) production and distribution network, by incorporating CISBIO’s six FDG (fluorodeoxyglucose) production and distribution facilities in France;
- Sustaining our sales growth in the eurozone, thereby reducing our dependency on the dollar;
- Achieving economies of scale.”