DGAP-Adhoc
Biotest AG: Biotest to sell US therapy business to ADMA Biologics, Inc. receiving approximately 50% of the shares of ADMA Biologics, Inc
DGAP-Ad-hoc: Biotest AG / Key word(s): Disposal
Ad-hoc RELEASE |
Biotest to sell US therapy business to ADMA Biologics, Inc. receiving
approximately 50% of the shares of ADMA Biologics, Inc
Dreieich, 23 January 2017. Biotest's US subsidiary, Biotest Pharmaceuticals
Corporation, Boca Raton, Florida, USA, (BPC), has entered into a definitive
agreement with ADMA Biologics, Inc., Ramsey, New Jersey, USA, (ADMA) to
sell certain assets of the US therapy business. Included in the assets to
be transferred at closing are BPC's plasma fractionation facility, its
commercial products, contract manufacturing agreements as well as BPC's
Boca Raton, Florida headquarters and real properties.
Upon closing of this transaction, Biotest will receive equity interest in
ADMA's issued and outstanding capital stock in the form of 50% minus one
share representing 25% of the voting rights. In addition, Biotest will:
- Receive two ADMA plasma centers in the USA on January 1, 2019
- Obtain distribution rights for ADMA's innovative product (RI-002) and a
right of first offer for the distribution of future ADMA developed
plasma-based products in Europe, Near and Middle East and selected
Asian countries
- Participate from the future development of products in the USA
As part of the transaction, Biotest will contribute EUR11.5 million in cash
as well as a EUR14 million loan. The loan bears 6% interest and has a term
of 5 years. In addition, Biotest will contribute up to EUR11.5 million
towards a future capital increase of ADMA on equal terms as third party
investors.
BPC will maintain its focus on its plasma operations business which
includes 22 plasma centers located across the USA.