Oxford Biomedica plc, a cell and gene therapy contract development and manufacturing organization (CDMO), has entered into a sale and purchase agreement with TSGH SAS, a subsidiary of Institut Mérieux SA, for the acquisition of ABL Europe SAS.

The acquisition for a consideration of €15 million, includes the value of €10 million, of pre-completion cash funding from Institut Mérieux in ABL Europe.

Completion of the transaction is currently expected to take place in the first quarter of 2024.

This follows the previous announcement of exclusive negotiations in relation to the proposed acquisition by Oxford Biomedica of ABL Europe, a European CDMO with specialized expertise in the development and manufacturing of solutions for biopharma including viruses for gene therapy, oncolytic viruses and vaccine candidates, in exchange for Oxford Biomedica ordinary shares.

The acquisition of ABL Europe will consolidate Oxford Biomedica’s operations into a global CDMO in the cell and gene therapy space. It will broaden the company’s international presence by establishing a footprint within the EU through facilities located in Lyon and Strasbourg, France. In addition, the acquisition will increase Oxford Biomedica’s capacity in process and analytical development and early-stage manufacturing and address increased client demand for process development.

Frank Mathias, CEO of Oxford Biomedica, said, “The acquisition of ABL Europe strengthens Oxford Biomedica’s operations into a global pure-play CDMO in the cell and gene therapy space. We will now be establishing a significant presence in the EU, while also freeing up Oxford Biomedica’s capacity to better serve our growing client demand worldwide. We look forward to realizing the operational and commercial synergies of this acquisition in 2024 and beyond.”