Oxford Biomedica PLC said it is acquiring ABL Europe for €15 million from France's Institut Mérieux - a deal that positions it as a global pure-play contract development and manufacturing (CDMO) group in the cell and gene therapy sector.
ABL Europe, a European CDMO specialising in biotech and biopharma solutions, including gene therapy and vaccine candidates, will enhance Oxford Biomedica’s international presence, especially within the European Union, with facilities in Lyon and Strasbourg.
ABL Europe is engaged in more than 10 cell and gene therapy programmes across various disease areas and is expected to generate revenues of approximately €15 million for the year ending 31 December 2023.
ABL Europe's forecast revenues are €15 million and last year it reported an underlying loss of €1.7 million.
In early trade, the shares were up 1.55% at 170.6p.