Scil Technology GmbH and Nanohale AG announced that Nanohale has acquired the entire R&D, contract development, and manufacturing organization of Scil Technology GmbH in an asset deal, effective December 31, 2011. Employees and inventory of Scil Technology GmbH have become part of Formycon GmbH, a fully-owned subsidiary of Nanohale AG. The rights to the tissue regeneration projects, which were out-licensed by Scil Technology to Medtronic, Inc. and Sanofi, will remain with Scil Technology GmbH, which will be sustained as an independent company to manage its existing collaborations. Financial details have not been disclosed.
Scil Technology has strong expertise in protein drug development, formulation and analytics, which is highly complementary to Nanohale´s existing protein formulation platform and will enable Nanohale to strengthen its biopharmaceutical development expertise.
“The transaction is an excellent exit opportunity for our investors at BioNet Holding, following the out-licensing of our clinical dental lead project to Medtronic in 2008 and our preclinical orthopedics lead project to Sanofi in 2011,” said Christian Nafe, CEO of Scil Technology. “We have chosen Nanohale as a partner because of the perfect fit and the strategic concept of the company. Nanohale will be able to make optimum use of Scil Technology´s expertise and platform for both internal drug development and external R&D services.”
“Restructuring the capabilities together with the tremendous experience of the company in drug development helped Scil Technology to become an interesting partner in the market,” added Klaus Binder, COO of Scil Technology. “Establishing the formycon business unit to bundle the core competence of Scil Technology in drug product development and analytics has been decisive to convince potential exit partners.”
“We are very pleased about the transaction. It clearly demonstrates that a significant value has been created by Scil Technology´s management over the past couple of years,” said Brian Hunter, Managing Director of BioNet Holding. “We continue to be fully committed to our investments in Scil Proteins, Scil Proteins Production, Scil Animal Care Company and Scil Technology, the latter of which will be dedicated to the Sanofi and Medtronic collaborations.”
Dr. Nicolas Combé, CFO of Nanohale AG explained, “Over the past years, Scil Technology has been able to complete numerous projects with big-name corporate partners with remarkable success. The completion of this transaction marks a significant broadening of the product and service portfolio of the Nanohale Group, and will facilitate the further transition from a pure technology-based company into a globally operating specialty pharma company.”
Date: January 9, 2012
Source: Scil Technology GmbH