Polyplus provides upstream solutions for the manufacturing of advanced biologic and cell and gene therapy, with a legacy portfolio comprising transfection reagents, kits, and support services, along with a custom plasmid vector design
Sartorius to acquire Polyplus. (Credit: Michal Jarmoluk from Pixabay)
Sartorius, through its French unit Sartorius Stedim Biotech, has signed an agreement to acquire biotechnology company Polyplus for a total consideration of about €2.4bn.
The French life science company will acquire Polyplus from private investors including ARCHIMED and WP GG Holdings, an affiliate of Warburg Pincus.
Established in 2001, Polyplus is engaged in providing upstream solutions for the manufacturing of advanced biologic and cell and gene therapy, from research to commercial scale.
The company has around 270 employees, and provides transfection, along with other DNA/RNA delivery reagents and high-quality plasmid DNA.
Its legacy portfolio includes process-centric transfection reagents, kits, and support services, along with a custom plasmid vector design that was integrated into the offer last year.
Polyplus CEO Mario Philips said: “This contemplated acquisition is a major milestone in the history of Polyplus, and a recognition of its innovative upstream market leadership position and our highly talented Polyplus teams around the world.
“We would be excited to join forces with a world-class bioprocess market leader as Sartorius.
“Our combined portfolios would create a unique ability to optimize the total process workflow to deliver unparalleled value for cell/gene and DNA/RNA therapy customers, in a strong effort to make these critically needed therapies more affordable.”
The plasmid vectors are an important ingredient in the production of viral vectors used in cell and gene therapies and other advanced medicinal therapeutic products.
The proposed transaction is expected to close during the third quarter of this year, subject to customary conditions, including completion of the consultation and regulatory approval.
Sartorius will fund the acquisition through a bridge loan facility from JP Morgan for a transitional period to finance the transaction.
The company plans to refinance the loan with long-term financing instruments which might also include an equity component.
Jefferies served as financial advisor and Kirkland & Ellis offered legal counsel to Polyplus and its shareholders, on this transaction.
William Blair served as financial advisor and Milbank and Jeantet offered legal counsel to Sartorius.
Sartorius executive board member and bioprocess solutions division head René Fáber said: “In the dynamically growing market for cell and gene therapies, viral vectors are needed to deliver the genes of interest into cells. The development pipeline of such therapies has been growing strongly and more and more are reaching major milestones.
“As a leading supplier of critical components to produce cell and gene therapies, Sartorius and Polyplus together will be excellently positioned to play a significant role in this dynamic field.”
Warburg Pincus managing director and healthcare head TJ Carella said: “We are both proud to have jointly supported Polyplus through a transformative period of growth, partnering with the company to successfully expand its product portfolio and execute a strong acquisition strategy.”