Sartorius Stedim Biotech GmbH: Acquisition of Wave Biotech AG Wrapped Up
GOETTINGEN, Germany--(BUSINESS WIRE)--Sartorius Stedim Biotech GmbH (SSB)(Paris:DIM), a group subsidiary of the biotechnology supplier Sartorius Stedim Biotech, fulfilled all contractual terms governing the acquisition of Wave Biotech AG based in Tagelswangen, Switzerland. The acquisition was completed on December 1, 2008.
On October 31, 2008, Sartorius Stedim Biotech had announced that it had signed an agreement to acquire the Swiss technology company Wave Biotech AG. Before that, the two companies had been cooperating under an exclusive alliance agreement. By acquiring this company, Sartorius Stedim Biotech is further extending its leading market position in single-use fermentation and cell culture technology.
A profile of Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading provider of cutting-edge equipment and services for the development, quality assurance and production processes of the biopharmaceutical industry. Its integrated solutions covering fermentation, filtration, purification, fluid management and lab technologies are supporting the biopharmaceutical industry around the world to develop and produce drugs safely, timely and economically. For next generation processes, Sartorius Stedim Biotech focuses on single-use technologies and value-added services to meet the rapidly changing technology requirements of the industry it serves. Strongly rooted in the scientific community and closely allied with customers and technology partners, the company is dedicated to its philosophy of "turning science into solutions" on a daily basis.
Headquartered in Aubagne, France, Sartorius Stedim Biotech is listed on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and a global network of sales companies, Sartorius Stedim Biotech enjoys a worldwide presence. Its key manufacturing and R&D site is in Germany. The company employs over 2,300 people, and in 2007 generated pro forma sales revenue of 375.9 million euros.
This press release contains statements about the future development of the Sartorius Stedim Biotech Group. We cannot guarantee that the content of these statements will actually apply because these statements are based upon assumptions and estimates that harbor certain risks and uncertainties.