EUROAPI to Acquire BianoGMP to Strengthen its CDMO Expertise in the High-Growth oligonucleotide Market

Regulatory News:

EUROAPI (Paris:EAPI) and the shareholders of BianoGMP (“Biano”), a Contract Development and Manufacturing Organization (“CDMO”), with recognized expertise in oligonucleotides, have signed a share purchase and transfer agreement under which EUROAPI will acquire 100% of Biano shares. The total consideration for the transaction is approximately €10 million, including the acquisition price (upfront payment and deferred consideration) and Capex aimed to increase Biano’s capacity to address larger scale and more complex projects. The closing of the transaction is subject to customary conditions precedent and is expected in the fourth quarter of 2023. It will have limited impacts on EUROAPI’s 2023 financial performance.

Created in 2017 by Prof. Tobias Pöhlmann and Dr. Rolf Günther, Biano is an oligonucleotide CDMO player focused on small-scale, early-stage (pre-clinical to phase 1), complex and customized projects, with a diversified client base in Europe and Asia. Biano is located in Gera, Germany.

This acquisition will strengthen EUROAPI’s CDMO market position in oligonucleotides by adding to its current offer a reputable oligonucleotide CDMO pure player, with capacity to grow. The planned expansion of EUROAPI’s Frankfurt oligonucleotide capacity in 2025 will be complementary to Biano’s early-phase expertise and enable larger-scale projects offering. In addition to opening opportunities for cross-referral commercial synergies and scientific cooperation, this transaction will further differentiate EUROAPI’s value proposition to accompany a wider client base across the whole oligonucleotide development continuum, from research to commercialization.

Consistent with EUROAPI's entrepreneurial approach, Biano will retain its corporate brand and become a EUROAPI company.

“The acquisition of Biano builds on EUROAPI’s strategy to accelerate its CDMO roadmap through vertical integration and strengthen its highly differentiated platforms, notably oligonucleotide activity. By coupling Biano’s expertise and capacity in early-stage projects with EUROAPI’s larger scale capabilities, we aim to support our clients along the drug development pathway as a one-stop shop,” said Karl Rotthier, Chief Executive Officer of EUROAPI. “This bolt-on transaction is a key milestone in our journey to become a leading, fast-growing CDMO company.”