Larka is delighted to announce it acted as the sell-side Vendor Commercial Due Diligence provider to support the sale process of Albumedix – a leading recombinant albumin-based solution provider based in Nottingham, UK – acquired by the Sartorius Group.
Life science group Sartorius – through its French listed subgroup Sartorius Stedim Biotech – has reached an agreement to acquire all outstanding shares in Albumedix Ltd. from private investors, at an agreed purchase price of approximately £ 415Mn.
Already established as a global leader in laboratory and bioprocessing technologies for the biopharmaceutical industry, Sartorius’ objective with this acquisition is to further strengthen its portfolio of innovative advanced therapy solutions.
Albumedix’ current 72,000-square-foot Nottingham site will be established as a centre of excellence for innovation and GMP-compliant production of critical raw materials.
How did Larka Support Albumedix’ Sale Process?
This Vendor Commercial Due Diligence (VCDD) provided Albumedix with a high standard, data-driven and unbiased story of their company – meant to showcase the true value of the UK-based player to potential investors. Giving a full commercial appreciation of the asset to bidders through an educational approach, Larka’s VCDD are designed to simplify the diligence work of buy-side teams.
The Larka M&A team provided a bottom-up analysis of the non-therapeutic human albumin market, covering all major application areas and therapeutic modalities. Through a rigorous market and industry engagement process, Larka were able to complete a comprehensive analysis, not shying away from difficult assumptions necessary, effectively translating the vast yet at times unpredictable market potential for recombinant human albumin based solutions.
Jonas S. Møller – Chief Executive Offer at Albumedix
As for all of our Sell-Side Merger & Acquisition services, this Vendor Due Diligence was built upon our M&A teams’ extensive knowledge of the biotech and pharma industry.
In this case, Larka’s healthcare expertise and data were leveraged to provide Sartorius with an accurate picture of the recombinant human albumin (rHA) market size and dynamics for each of its key non-therapeutic applications, such as:
- rHA as a raw material for cell culture media
- rHA as an excipient in Drug Product (DP) formulation
- rHA as a coating agent
What’s Next for Albumedix and Sartorius?
With close to 40 years of experience delivering best-in-class albumin products from its Nottingham site, Albumedix has established itself as a leader within the field of recombinant human albumin, all while experiencing a sustained growth.
The UK-based player benefits from ever-stringent regulatory requirements – resulting in the current market shift towards chemically defined and animal-origin free products.
Albumedix’ rHA is an essential component for the healthcare industry and is required for various applications across a number of modalities, including:
- Recombinant Protein
- Cell Therapy
- Gene Therapy
- Cell & Gene Therapy
- Attenuated, Inactivated and Oncolytic Viruses
- Invasive Medical Devices
- In Vitro Diagnostics (IVD)
Following this significant acquisition, Albumedix has become part of the Bioprocess Solutions Divisions of Sartorius, and its Nottingham site established as a centre of excellence for bio-innovation and cGMP-compliant manufacturing of critical raw materials.
The Sartorius Group is set to invest in the expansion of Albumedix’ innovation capacities and proprietary recombinant protein production platform in the near future – with the aim to accelerate the global availability of critical components for the manufacture of advanced therapies and next-generation biopharmaceuticals.
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About Larka, the sell-side vendor due diligence provider:
Larka is a management consulting firm, exclusively dedicated to the Biotech and Pharma industry. We assist all players that are somehow involved technically, commercially or financially into drug discovery, development and manufacturing, such as Biotech & Pharma companies, Contract Services Organizations, Equipment or Raw Materials Suppliers, Private Equity firms, Investment Banks or Public Institutions.
Covering Technical, Operational, Commercial and Strategic activities, Larka has developed a unique combination of expertise – including TechOps, CMC & Outsourcing, Operational & Commercial excellence, Marketing & Sales, Corporate Strategy and M&A - giving Larka’s clients a full appreciation of their capabilities and a 360° view, full-potential vision, on the industry’s opportunities, synergies and risks.
About Albumedix, the biopharma solutions provider advised:
Albumedix is a science-driven company and recognized leader of best-in-class albumin-enabled solutions. Established in the UK in 1984, with a mission to empower excellence, Albumedix has supported its life-science partners to deliver hundreds of million safe doses of clinical and marketed therapeutics, globally. Albumedix’ solutions include the world’s only USP-NF compliant recombinant human albumin (Recombumin®), client-centric development and compliance services and drug-enhancing technologies (Veltis®). By always striving for more and collaboratively challenging status quo, Albumedix enables the development and commercialisation of advanced therapies and next-generation biopharmaceuticals to the benefit of people worldwide.
About Sartorius, the buy-side life science group:
The Sartorius Group is a leading international partner of life science research and the biopharmaceutical industry. With innovative laboratory instruments and consumables, the Group’s Lab Products & Services Division concentrates on serving the needs of laboratories performing research and quality control at pharma and biopharma companies and those of academic research institutes. The Bioprocess Solutions Division with its broad product portfolio focusing on single-use solutions helps customers to manufacture biotech medications and vaccines safely and efficiently. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In fiscal 2021, the company earned sales revenue of some 3.45 billion euros. At the end of 2021, nearly 14,000 people were employed at the Group’s approximately 60 manufacturing and sales sites, serving customers around the globe.