Servier signed a definitive agreement to acquire Symphogen

Servier, an independent international pharmaceutical company, announced that it has entered into a definitive agreement with the owners of Symphogen A/S, a leader in therapeutic antibody discovery, to acquire
100% of Symphogen’s share capital. The acquisition, the result of a process that has been underway for several months now, will strengthen Servier’s antibody capabilities and ensure that Symphogen’s antibody discovery and early-development platform is fully utilized.

Under the terms of the agreement, Servier will gain full ownership of Symphogen’s proprietary pipeline of oncology and immuno-oncology programs and Symphogen’s antibody discovery and development platform.

Following completion of the acquisition, Symphogen will become Servier’s antibody center of excellence for its therapeutic areas. Symphogen will operate as a standalone organization within the Servier Group, maintain its headquarters in Ballerup, Denmark, and continue to rely on its current and experienced employees.

“The acquisition of Symphogen is an important step for Servier to meet its strategic ambitions to become a recognized player in oncology. Antibody-based therapies remain a key therapeutic modality within oncology and immuno-oncology, and with Symphogen’s strong antibody capabilities, this acquisition will boost significantly our R&D in oncology and in our other therapeutic areas. Our goal is to bring life-saving treatments to greater numbers of patients around the world,” said Olivier Laureau, President of Servier. “We thoroughly look forward to welcoming Symphogen to the Servier Group following the closing of the deal.”

Servier and Symphogen have been engaged in a strategic immuno-oncology collaboration for more than 2 years now.

Bernhard Ehmer, Symphogen Chairman of the Board of Directors, commented: “This transaction is a key milestone for Symphogen and its owners as it validates the strength of our oncology portfolio and attractiveness of our antibody technologies. Our existing strategic collaboration with Servier has demonstrated the strategic fit between the two organizations and I am convinced that Servier is well-positioned to further enhance the potential of Symphogen.”

Lazard, on the one hand, and McDermott Will & Emery and Gorrissen Federspiel Advokatpartnerselskab, on the other hand, respectively financial and legal advisors, have advised Servier in this process which began several months ago.

Symphogen has used Rothschild & Co as financial advisor and Plesner Advokatpartnerselskab as well as Perkins Coie LLP as legal advisors.

The total amount of the transaction was not disclosed by either party.