June 2010. CFP BioConnect, the life sciences arm of the Corporate Finance Partners Group – now ACXIT Capital Partners, is pleased to announce that it has advised Minapharm Pharmaceuticals, Cairo/Egypt on the acquisition of a 95% stake in ProBioGen AG, Berlin/Germany.
The total purchase price of EUR 30.4 million includes earn-out payments which are conditional upon the achievement of defined milestones. HC Securities & Investment, Cairo, acted as co-advisor, Hengeler Mueller was legal counsel and Ernst & Young was responsible for the financial due diligence.
Minapharm Pharmaceuticals, headquartered in Cairo, is one of the leading pharmaceutical companies in Egypt and the Middle East. Through its subsidiary, Rhein Minapharm BioGenetics, Minapharm has established a meaningful presence in the biologicals area and has already successfully launched five therapeutic proteins on the market. (www.minapharm.com)
ProBioGen is a well established specialist in mammalian cell-engineering and cell culture as well as a leading innovator in the field of designer cell lines. The Company will continue to offer its customers a fully integrated and complete service spectrum from gene to market supply, providing every step from protein expression to cGMP manufacturing, including full project management support. ProBioGen provides Minapharm with an excellent platform to further expand its business into Europe. (www.probiogen.de)
About ACXIT
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, ACXIT offers its clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, equity/debt and strategic advisory. As an independent, privately owned firm we maintain offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York, as well as strong alliances in France, China and India. (www.acxit.com)
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