Sartorius to acquire TAP Biosystems

Laboratory and pharmaceutical equipment provider Sartorius Stedim Biotech has made a cash offer to acquire UK company TAP Biosystems through its wholly owned subsidiary, Sartorius Stedim Biotech GmbH.

The proposed transaction, which is subject to customary closing conditions including the approval of TAP’s shareholders, values the equity of TAP Biosystems at approximately €33 million. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close at the end of 2013.

TAP Biosystems specialises in the design and development of small-scale, multiparallel fermentation systems particularly for biopharmaceutical applications. The company’s portfolio also includes automated cell processing systems and other benchtop equipment.

Joachim Kreuzburg, the chief executive of Sartorius Stedim Biotech, stated, “TAP Biosystems’ fermentors are a great fit extending our reach into the small-scale cell culture applications. Adding capabilities in the early steps of upstream bioprocessing will enable us to provide our biopharma customers highly effective and scalable solutions to accelerate cell line selection, speed up process development and ultimately help them bringing their biologics to market faster.”

TAP Biosystems CEO David Newble welcomed the acquisition, saying, “As a market leader in bioprocessing technologies with a strong position in fermentation, Sartorius Stedim Biotech is well placed to maximise the opportunities of our novel, highly innovative cell culture technologies. We look forward to joining such a well-recognised organisation as Sartorius Stedim that will enable us to grow our business further with a wealth of complementary technologies and products.”

TAP Biosystems generated sales revenue of around €26 million in 2012-13 and employs about 160 people worldwide.