Servier Acquires Cancer Biotech Symphogen

Servier has entered into a definitive agreement to acquire the antibody discovery biotech Symphogen A/S. The acquisition, the result of a process that has been underway for several months now, will strengthen Servier’s antibody capabilities and ensure that Symphogen’s antibody discovery and early-development platform is fully utilized.
 
Servier will gain full ownership of Symphogen’s proprietary pipeline of oncology and immuno-oncology programs and Symphogen’s antibody discovery and development platform.
 
Following completion of the acquisition, Symphogen will become Servier’s antibody center of excellence for its therapeutic areas. Symphogen will operate as a standalone organization within the Servier Group, maintain its headquarters in Ballerup, Denmark, and continue to rely on its current employees.
 
"The acquisition of Symphogen is an important step for Servier to meet its strategic ambitions to become a recognized player in oncology," said Olivier Laureau, president, Servier. "Antibody-based therapies remain a key therapeutic modality within oncology and immuno-oncology, and with Symphogen’s strong antibody capabilities, this acquisition will boost significantly our R&D in oncology and in our other therapeutic areas."
 
Servier and Symphogen have been engaged in a strategic immuno-oncology collaboration for more than 2 years now.
 
Bernhard Ehmer, chairman of the board of directors, said, "This transaction is a key milestone for Symphogen and its owners as it validates the strength of our oncology portfolio and attractiveness of our antibody technologies. Our existing strategic collaboration with Servier has demonstrated the strategic fit between the two organizations and I am convinced that Servier is well-positioned to further enhance the potential of Symphogen."

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