L-GAM and the French State through the “French Tech Souveraineté” scheme have signed a purchase agreement with the aim of acquiring joint control of Biose Industrie, a world leader in the development and production of Live Biotherapeutic Products (LBPs), in order to support the group in a new phase of its development.
Biose Industrie is a world-leading contract development manufacturing organisation, dedicated to LBP process development and production. Since the company was founded in 1951 in Aurillac in the Cantal area of France, Biose Industrie has demonstrated its ability to develop a unique and innovative competence in industrial microbiology in compliance with pharmaceutical standards and regulations (ANSM, EMA, FDA).
With over 1000 batches in production and 100 in the clinical stage, Biose Industrie has experienced constant growth since 2017, working with biotechnology and pharmaceutical companies to develop microbiome-based medicinal products. This growth results from the rapidly growing microbiome therapeutics market, which has applications in a wide range of therapeutic areas including gastroenterology, oncology, gynaecology, dermatology and metabolic disorders.
In this context, a joint investment by the French State through the “French Tech Souveraineté” scheme, a system operated by EPIC Bpifrance and managed by Bpifrance as part of its France 2030 investment plan, and L-GAM, would allow them to acquire joint control of Biose Industrie in order to finance the next investment plan which will increase the company’s industrial capacity, for drug substance and drug product, in Aurillac. The investment will total €80 million, resulting in 200 additional staff hires within the next 4 years to scale Biose’s workforce to total 500 employees. In addition, to the further expansion of applied R&D facility near Boston US.
For this new phase of growth, Biose Industrie has high ambitions focused on three priority areas: (i) maintain and develop its technological and industrial advantage versus competition, (ii) continue recruiting staff in high numbers and (iii) expand its international presence where the company already has many clients.
On completion of the transaction, which remains subject to all applicable regulatory authorisations, “French Tech Souveraineté” and L-GAM will become shareholders alongside Adrien Nivoliez, the future President of Biose Industrie, the Fonds Souverain Auvergne-Rhône-Alpes managed by Siparex.
“As an industrial partner (CDMO – Contract Development Manufacturing Organization) naturally intent on serving our clients, we are proud to contribute with them to improving the health of all the patients affected by their research programmes”,
commented Adrien Nivoliez, CEO of Biose Industrie.
“Central to our plans to grow, lies a heartfelt desire to continue to expand with our clients to ensure that we are in a position to meet all their needs. I am extremely excited to see the success and finalisation of the financing of this new stage in the company’s growth and I emphasize once again the company’s high ambitions.”
About Biose Industrie
Originally called Laboratoires Lyocentre and established in 1951, Biose Industrie was bought by the Desjonquères family in 1997, who pursued its historical development as a CDMO specialized in the industrial manufacturing of microorganisms compliant with pharmaceutical standards and regulations for human health. Today Biose Industrie’s turnover is largely generated by international sales, over half of which are in the USA. Locally, Biose Industrie is at the forefront of the industrial scene and employs over 300 people.
L-GAM (www.l-gam.com) is a long-term oriented investment firm with capital commitments in excess of €1 billion. L-GAM was established in 2013 with the backing of the Princely Family of Liechtenstein and several families from Europe, Asia and the USA. Its unique and differentiated business model is based on long-term, industrial-like investment focus and a flexible mandate to provide investment solutions throughout the capital structure. L-GAM focuses on partnering with small and medium sized companies across Europe. L-GAM has invested , among others, in Jardiland (France), Faist ChemTec (Germany), Grupo BC (Spain), Cyber Group Studios (France), Woolrich (Italy and USA), Amplitude Laser Group (France), Centro Medico Santagostino (Italy), Ancorotti Cosmetics (Italy), Vinventions (Belgium) and Cotta (Liechtenstein).
About French Tech Souveraineté
The “French Tech Souveraineté” scheme was launched by the French government in June 2020 and is an investment scheme aimed at both promoting and protecting business development in France. The government has injected a total amount of €650 million into the scheme to support French technological companies developing technologies of the future of national interest and that could be prey to large foreign companies or overtaken by competitors with stronger financial means. The “French Tech Souveraineté” agreement designates EPIC Bpifrance as the operator of the scheme and Bpifrance Investissement to manage the implementation and monitoring of investment files.