Crucell has signed an agreement to acquire Stockholm-based SBL Vaccin AB (SBL) from 3i and SEB for $50.6 million in cash. The acquisition is expected to close on November 23, 2006.

SBL is an independent Swedish biotechnology company employing 120 people. SBL’s main product is Dukoral, an oral vaccine for protection against cholera and is registered in more than 50 countries excluding the U.S. Dukoral is also registered in the same countries (excluding the EU and Australia) to protect against ETEC (travelers’ diarrhea). In 2005 sales were $16.6 million. SBL also has a sales and distribution organization for vaccines in Scandinavia where the company markets vaccines sourced from global vaccine companies including Crucell. Revenues related to the distribution of third party products were approximately $13 million in 2005.

“The acquisitions of SBL and recently acquired Berna Products Corp., both fit perfectly in our strategy to further expand our travel vaccines portfolio,” said Crucell’s chief executive officer, Ronald H.P. Brus. “We now have access to ‘best in class’ marketing and sales capabilities, which we will use to accelerate future sales growth and support new product launches.”