LFB to Take Over MAbgène

LFB (Les Ulis, France, www.lfb.fr) plans to incrementally acquire MAbgène (Alés, France, www.mabgene.com), through the development of a new entity for €6 million. The deal marks LFB's drive to increase its bioproduction facilities following its move into biotechnology last year.

The new company will be controlled by LFB’s subsidiary, LFB Biotechnologies, and will operate out of MAbgène's manufacturing site in Alés, France.

LFB Biotechnologies will acquire 41 per cent of the stock capital and 51 per cent of the voting rights in the new company for €3m upfront, while providing MAbgène with the funds needed to develop its activities, build new operating facilities, and recruit additional personnel. LFB’s objective is to fully acquire 100 per cent of MAbgène. The new biotech company will manufacture commercial batches of monoclonal antibodies.

Patrick Henno, founder of MAbgène, will be appointed chief executive of the new company and existing MAbgène employees will remain on board.