Jubilant Biosys Innovative Research Services, Singapore (JBIRSPL), a subsidiary of Jubilant Biosys (JBL), a wholly owned subsidiary of Jubilant Pharmova, has signed and issued a put option offer to Pierre Fabre Laboratories (PF), setting out an offer to acquire 80% of the equity (approximately EUR 4.4 million over a 2-year period) in a new company incorporated in France to acquire Pierre Fabre’s R&D center (including R&D site and R&D activities) in Saint Julien, France.
The above-mentioned planned cooperation is subject to prior consultation of the PF Works Council and approval of the offer by PF, as well as the finalisation of definitive agreements and customary closing conditions.
After completion of the transaction:
– The new company would leverage this R&D center and have the opportunity to collaborate with major pharma and biotech customers in Europe and the US.
– This proposed transaction would enable JBL to strengthen its drug discovery capabilities in the areas of biologics and antibody drug conjugates (ADCs).
– PF may invest 20% of the equity capital (approximately EUR 1.1 million over a 2-year period) in a new company for a maximum period of 5 years. During this period, PF may continue to support the new company in transforming the R&D center into a fully independent contract research organization, with PFG having no access to any proprietary information or intellectual property related to the R&D center.
– PF can also use JBL services worth a total of EUR 7 million for the first four years
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First published: 16 August 2024 | 18:41 IS
