PRESS RELEASE
Biotest sold US therapy business to ADMA Biologics, Inc.
- Biotest receives 50% minus one share of ADMA
- Biotest receives also distribution rights of specified current product and a right of first offer for the distribution of future products of ADMA for Europe, Near and Middle East and selected Asian countries
Dreieich, 7 June 2017. Biotest's US subsidiary, Biotest Pharmaceuticals Corporation, Boca Raton, Florida, USA, (BPC), has closed the agreement with ADMA Biologics, Inc., Ramsey, New Jersey, USA, (ADMA) to sell certain assets of the US therapy business after customary closing conditions, including approval of ADMA's shareholders, were fulfilled.
Included in the assets to be transferred are BPC's plasma fractionation facility, its commercial products, contract manufacturing agreements as well as BPC's Boca Raton, Florida headquarters and real properties.
Biotest received equity interest in ADMA's issued and outstanding capital stock in the form of 50% minus one share representing 25% of the voting rights. In addition, Biotest will:
- Receive two ADMA plasma centers in the USA on January 1, 2019
- Obtain distribution rights for ADMA's innovative product (RI-002) and a right of first offer for the distribution of future ADMA developed plasma-based products in Europe, Near and Middle East and selected Asian countries
- Participate from the future development of products in the USA
As part of the transaction, Biotest has contributed EUR11.5 million in cash as well as a EUR14 million loan. The loan bears 6% interest and has a term of 5 years. In addition, Biotest will contribute up to EUR11.5 million towards a future capital increase of ADMA on equal terms as third party investors.
"We are pleased that all closing conditions are fulfilled and that Biotest is now a significant shareholder of ADMA." said Dr. Bernhard Ehmer, Chief Executive Officer and Chairman of the Board of Management of Biotest AG. "With the further development of the hyperimmune portfolio we have the opportunity to maximize the market potential of the assets."
About ADMA Biologics, Inc.
ADMA is a biopharmaceutical company that develops, manufactures and intends to commercialize specialty plasma-based biologics for the treatment and prevention of Primary Immune Deficiency Disease (PIDD) and certain infectious diseases. ADMA's mission is to develop and commercialize plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases. The target patient populations include immune-compromised individuals who suffer from an underlying immune deficiency disease, or who may be immune-compromised for medical reasons. For more information, please visit the company's website at www.admabiologics.com.
About RI-002
ADMA's lead product candidate, RI-002, is a specialty plasma-derived, polyclonal, intravenous immune globulin (IGIV) derived from human plasma containing naturally occurring polyclonal antibodies (e.g., Streptococcus pneumoniae, H. influenza type B, cytomegalovirus (CMV), measles, tetanus, etc.) as well as standardized, high levels of antibodies to respiratory syncytial virus (RSV). ADMA is pursuing an indication for the use of this specialty intravenous immune globulin (IGIV) product for treatment of patients diagnosed with PIDD. Polyclonal antibodies are the primary active component of IGIV products. Polyclonal antibodies are proteins that are used by the body's immune system to neutralize microbes, such as bacteria and viruses. Data review indicates that the polyclonal antibodies present in RI-002 support its ability to prevent infections in immune-compromised patients.
About Biotest
Biotest is a provider of plasma proteins and biological drugs. With a value added chain that extends from pre-clinical and clinical development to worldwide sales, Biotest has specialised primarily in the areas of clinical immunology, haematology and intensive medicine. Biotest develops and markets immunoglobulins, coagulation factors and albumins based on human blood plasma. These are used for diseases of the immune and haematopoietic systems. In addition Biotest develops monoclonal antibodies in the indications of cancer of plasma cells and systemic lupus erythematosus which are produced by recombinant technologies. Biotest has more than 2,500 employees worldwide. The preference shares of Biotest AG are listed in the SDAX on the Frankfurt stock exchange.
IR contact
Dr. Monika Buttkereit
phone: +49-6103-801-4406
email: investor_relations@biotest.de
PR contact
Dirk Neumüller
phone: +49-6103-801-269
email: pr@biotest.com
Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
Preference shares: securities' ID No. 522723; ISIN DE0005227235
Listing: Prime Standard
Open Market: Berlin-Bremen, Düsseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart
Disclaimer
This document contains forward-looking statements on overall economic development as well as on the business, earnings, financial and assets position of Biotest AG and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and elements of uncertainty that could result in significant deviation of actual developments from expected developments. The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and assumes no obligation to do so.
07.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
