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

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
EY Life Sciences

Our global reach Against a backdrop of regulatory, digital, financial and global transformation, Life Sciences companies are finding integration and...

Latest intelligence

patients
Retaining reader value in plain language summaries of clinical studies
Balancing the risk of misinterpretation with the public’s ability to understand simplified plain-language summaries...
Can we talk about the ego-bias and chemicals influencing your target audience’s behaviour?
Over the Summer, the Page & Page team became fascinated by two books on this very subject. Two books from one author, Dean Burnett, an eminent neuroscientist, lecturing at Cardiff...
Paris
Making Europe a leader in bioscience: boosting trust and opening minds
A vision of Paris as Europe’s leading hub for life sciences innovation...

Infographics