Thermo Fisher Scientific Acquires Viral Vector Manufacturing Business from Novasep

Rhea-AI Summary

Thermo Fisher Scientific (TMO) announced the acquisition of Henogen S.A., Novasep's viral vector manufacturing business, for approximately €725 million. This strategic move aims to enhance Thermo Fisher's capabilities in cell and gene therapies, adding significant manufacturing capacity in Belgium. The Henogen business, recognized for its expertise and operational excellence, generated an estimated €80 million in revenue in 2020. The acquisition aligns with Thermo Fisher's mission to support global biotech clients and strengthens its position in the European market.

Positive

• Acquisition of Henogen strengthens TMO's capabilities in cell and gene therapies.
• Addition of 7,000 square meters of manufacturing capacity in Belgium.
• Henogen's estimated 2020 revenue of €80 million enhances TMO's financial outlook.

Negative

• None.

WALTHAM, Mass. and LYON, France, Jan. 15, 2021 /PRNewswire/ -- Thermo Fisher Scientific Inc., (NYSE: TMO), the world leader in serving science, and Groupe Novasep SAS (Novasep), a leading supplier of services and technologies for the life sciences industry, today announced that Thermo Fisher has completed the acquisition of Henogen S.A., Novasep's viral vector manufacturing business in Belgium for approximately €725 million in cash.

Novasep's viral vector manufacturing business provides contract manufacturing services for vaccines and therapies to biotechnology companies and large biopharma customers. With two locations in Seneffe and Gosselies, Belgium, Novasep's viral vector business offers more than 7,000 square meters of state-of-the-art clinical and commercial manufacturing capacity. Founded more than 20 years ago, the business has approximately 400 employees with substantial operational and technical expertise in a broad range of viral vector classes and estimated 2020 revenue of €80 million (or approximately $95 million).

"Novasep's viral vector business is an excellent strategic fit as Thermo Fisher continues to expand its capabilities for cell and gene vaccines and therapies globally," said Michel Lagarde, executive vice president of Thermo Fisher. "The addition of their manufacturing capabilities in Europe complements our four development and manufacturing sites in North America. In addition, they bring an incredibly talented team with more than two decades of experience across a broad range of viral vectors.  The combination will benefit our global customers seeking support and capacity in the region as well as European customers bringing new medicines to patients inside and outside of Europe."

Michel Spagnol, president and chief executive officer of Novasep said, "Thermo Fisher is an outstanding partner for our viral vector business and its future development. Our diverse customer base will benefit from the combination of our viral vector services capabilities with the scale and capabilities of Thermo Fisher. Our talented employees will bring deep expertise to an organization that shares our commitment to providing ground-breaking new medicines to patients."

The business will be part of the Pharma Services business within the Laboratory Products and Services Segment.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue exceeding $25 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, improving patient diagnostics and therapies or increasing productivity in their laboratories, we are here to support them. Our global team of more than 75,000 colleagues delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon. For more information, please visit www.thermofisher.com.

About Novasep

Novasep is a global provider of cost effective and sustainable manufacturing solutions for life sciences molecules. Novasep's unique offering includes process development services, purification equipment and turnkey processes, contract manufacturing and complex active molecule services for pharmaceutical, biopharmaceutical, fine chemical, food and functional ingredients as well as fermentation and chemical commodities industries. https://www.novasep.com

Safe Harbor Statement

The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the duration and severity of the COVID-19 pandemic; the need to develop new products and adapt to significant technological change; implementation of strategies for improving growth; general economic conditions and related uncertainties; dependence on customers' capital spending policies and government funding policies; the effect of economic and political conditions and exchange rate fluctuations on international operations; use and protection of intellectual property; the effect of changes in governmental regulations; and the effect of laws and regulations governing government contracts, as well as the possibility that expected benefits related to recent or pending acquisitions may not materialize as expected. Additional important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, under the caption "Risk Factors," which is on file with the Securities and Exchange Commission and available in the "Investors" section of our website under the heading "SEC Filings."  While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.

Media Contact Information:
Ron O'Brien
Phone: +1 781-622-1242
E-mail: ron.obrien@thermofisher.com

Investor Contact Information:
Ken Apicerno
Phone: +1 781-622-1294
E-mail: ken.apicerno@thermofisher.com

For Novasep
Agnes Catineau
Phone: +33 7 78 50 95 46
E-mail: Novasep@brunswickgroup.com

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SOURCE Thermo Fisher Scientific

FAQ

What is the significance of Thermo Fisher's acquisition of Henogen?

The acquisition enhances Thermo Fisher's capabilities in cell and gene therapies, expanding its manufacturing capacity in Europe.

How much did Thermo Fisher pay for Henogen?

Thermo Fisher acquired Henogen for approximately €725 million.

What kind of services does Henogen provide?

Henogen provides contract manufacturing services for vaccines and therapies to biotechnology and biopharma companies.

What was Henogen's estimated revenue in 2020?

Henogen's estimated revenue in 2020 was €80 million, or about $95 million.

Where are Henogen's manufacturing facilities located?

Henogen's manufacturing facilities are located in Seneffe and Gosselies, Belgium.