Sartorius Stedim Biotech (SSB), a group subsidiary of the biotechnology supplier Sartorius, has signed an agreement to acquire the Swiss-based technology company Wave Biotech.
Both companies have already been closely working together since 2006.
In addition to their joint research projects, SSB has been exclusively marketing Wave's entire product range that covers various types of single-use bioreactors and further equipment for biopharmaceutical research and manufacture.
During the current financial year, SSB's sales revenue with Wave products is expected to amount to approximately EUR10m.
The acquisition, which is subject to clearance by the antitrust authorities, is expected to be completed in December.
Financial terms were not disclosed.
In recent years, SSB has systematically extended its strong position in classic and disposable fermentation technologies through its own research and development, numerous technology alliances and strategic acquisitions.
Wave Biotech designs and manufactures disposable bioreactors, an alternative to traditional reusable stainless steel systems.
These bioreactors are used by the biopharmaceutical industry to produce vaccines and monoclonal antibodies.
They offer biopharmaceutical manufacturers many advantages over conventional systems, such as more flexible process design and significantly lower costs for cleaning and validation.
