CSL, Bionomics complete deals

CSL (ASX:CSL) has completed the sale of its JRH Biosciences division to Sigma-Aldrich for US$370 million, and Bionomics (ASX:BNO) has completed the acquisition of a French contract research organisation.

CSL's sale is one of several divestments by the company over the last couple of years as it moves to consolidate its position as a biopharmaceutical company with a strong focus on plasma as well as on pharmaceuticals and biotechnology. In 2003, the Animal Health division was sold to Pfizer for AUD$170 million.

CEO Brian McNamee said JRH was poised to move into a new stage of development, and noted that he hoped Sigma-Aldrich would be able to build on the value the division would bring to its cell culture reagents business.

Adelaide company Bionomics (ASX:BNO) has completed the acquisition of French CRO Neurofit for 1.25 million euros (AUD$2.52 million) in cash and shares. The acquisition gives the company access to preclinical development capabilities for central nervous system therapeutics, to complement its existing drug and target discovery capabilities, and allowing it to fast track its development of CNS therapeutics for epilepsy.

Neurofit has annual revenues of about AUD$1.7 million through the sales of its services to biotech and pharma companies including Novartis, Serono, Boehringer-Ingelheim, Guilford Pharmaceuticals and Biogen.