Cologne, Germany, November 6, 2007 - DIREVO Biotech AG, a leading
company for superior bioengineered products and processes for
industrial and pharmaceutical applications, announced today that it
has acquired AC Biotec GmbH in an all cash transaction. AC Biotec
will continue to operate as an independent, fully-owned subsidiary of
Direvo Biotech with Dr. Simon Curvers continuing as Managing
Director. This acquisition helps Direvo extend and expand its
capabilities and offerings to its current customers as well to new
customers in the industrial biotechnology and pharmaceutical markets.
AC Biotec GmbH, located in Jülich, Germany, is a provider of
bioprocess development and contract manufacturing services to the
industrial biotechnology and pharmaceutical markets. Established in
2001, AC Biotec offers development, optimization and application of
fermentation and downstream processes using microbial and plant
cell-based systems. This includes the complete scale of
biotechnological processes, starting from multi-well plates and shake
flasks up to pilot-scale stirred-tank-reactors.
"The acquisition of AC Biotec is a very important step in the
transformation of Direvo's Industrial Biotechnology Business Unit
into a more complete technology provider and to become a one stop
shop in the design and development of superior bioengineered products
and processes", stated Dr. Thomas von Rüden, CEO of Direvo. "This
will also help Direvo to develop processes and scale up its own line
of proprietary products in the future. On the pharmaceutical side of
the business, AC Biotec's capabilities will expand Direvo's ability
to supply customers with samples of its optimized products at the
preclinical stage. We welcome Simon Curvers and his group to the
Direvo Team. Direvo Biotech remains committed to its further growth
both organically as well as by additional M&A activities."
"We are very happy with the acquisition by Direvo", says Dr. Simon
Curvers, CEO of AC Biotec. "As a member of the Direvo Biotech Group,
we hope to offer additional services and capabilities to our existing
and potential customers, as well as to help Direvo Biotech and its
customers with our bioprocess development and scale-up skills. This
combination creates synergies that promise faster growth and
excellent long term perspectives to both companies", he adds.
-end-
About Direvo Biotech AG
DIREVO Biotech AG generates superior bioengineered products and
processes for industrial and pharmaceutical markets by enhancing
nature's potential. The Company's portfolio includes optimized
proteins, optimized bioprocesses and other bio-molecules, in
research, in commercial development and on the market. Direvo
develops products both independently and with global leaders such as
Danisco/Genencor, Nestlé and an undisclosed "top five" Pharma
partner. Direvo Biotech is committed to a tailored approach to
addressing customer needs and market opportunities.
Direvo's industrial biotechnology business focuses on food & feed,
and biorefinery markets. The Company provides solutions through
discovery, development and scale up of enzymes, other molecules and
strains. Industrial biotechnology at Direvo emphasizes environmental
sustainability and the use of renewable resources. For example, a
collaboration with Danisco A/S yielded a significantly improved
enzyme that has reached the market as part of a Danisco/Genencor
product.
Direvo's biopharmaceuticals business focuses on therapeutic
antibodies and proteases. Applying its powerful and proven protein
engineering capabilities, Direvo generates improved second generation
therapeutics and discovers and optimizes novel first-generation
therapeutics. Direvo offers early stage partnering from internal
discovery programs as well as collaborations on the optimization of a
wide range of therapeutic proteins.
DIREVO Biotech AG is privately held and located in Cologne, Germany.
Additional information is available at: www.direvo.com
About AC Biotec GmbH
AC Biotec GmbH is a service provider in the field of bioprocess
development and contract manufacturing. The company offers
development, optimization and application of cultivation and
downstream processes using microbial and plantal systems. The core
competence of AC Biotec includes the application of small-scale
culture systems and the scaling of processes in between these systems
and technical-scale stirred tank reactors. The complete scale of
biotechnological processes starting from multi-well plates and shake
flasks up to pilot-scale stirred-tank-reactors is covered. A close
cooperation of AC Biotec with producers of cultivation hardware and
innovative scientific institutions offers a unique variety of
platform technology and flexibility in the application of these
platforms not available for the standard customer.
The use of highly developed technology in an integrated approach
enables AC Biotec to significantly reduce time-to-market for its
customer's products. Customers of AC Biotec are amongst others
Boehringer Ingelheim Pharma GmbH&Co KG, Celanese AG, Codexis Inc.,
Evonic Industries (former Degussa AG), Lonza Group Ltd., Qiagen GmbH.
AC Biotec GmbH is located in Jülich, Germany. Additional information
is available at: www.acbiotec.de
Contact:
DIREVO Biotech AG
Dr. Thomas von Rüden
CEO
Telephone: + 49 221 8887-120
E-mail: info@direvo.com
