Please login to the form below

Not currently logged in
Email:
Password:

Hexal co-founders continue biotech buy up

The co-founders of Hexal are mulling further purchases in the biotech industry after buying a stake in MediGene

The co-founders of German generic manufacturer Hexal are mulling further purchases in the biotech industry after buying a stake in German-headquartered biotech MediGene, according to local media reports.

According to Thomas and Andreas Struengmann, who sold Hexal to Novartis two years ago, the EUR 15.6m (USD 21.7m) investment in Medigene will lift the value of their holdings in the biotechnology industry to a ìsignificantî amount.

The Struengmanns already hold stakes in German biotechnology companies including 4SC and Ganymed Pharmaceuticals, which is developing monoclonal antibody therapeutics to fight solid cancer tumours.

On 10 September, MediGene sold a 9.1 per cent stake out of newly created shares to the Santo Holding, which is controlled by the Struengmanns. MediGene will receive the investment from Santo Holdingís private placement.

The transaction was resolved with the approval of the supervisory board at a price of EUR 5.05 per share, with MediGene increasing registered share capital from EUR 30.8m to EUR 33.9m.

From 31 December 2007, Thomas Struengmann will succeed Dr Manfred Scholz, who has retired from MediGene¥s supervisory board due to medical reasons.

30th September 2008

Share

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
Attigo (part of the Mednet Group)

Inclusion drives innovation. Attigo, a social enterprise, helps pharma and the socially conscious business shape the future by engaging with...

Latest intelligence

Women in science
The role of women in science and technology
Why the lack of female leaders in pharma and life sciences is a problem that still needs to be fixed...
Maria Dahl
China’s homecoming heroes fuel a biotech boom with rapid CAR-T advances
China secures a place at the forefront of innovative medicine...
Virtual Research Grants Submission and Approval Program
Impetus Digital summarizes how a client established an independent grant review committee and a virtual grant submission and approval program, without having to travel and meet in person....

Infographics