Sartorius Stedim Biotech Acquires Wave Biotech

November 14, 2008

Sartorius Stedim Biotech GmbH (SSB, Goettingen, Germany) has acquired the Swiss-based company, Wave Biotech AG (Tagelswangen, Switzerland).

Sartorius Stedim Biotech GmbH (SSB, Goettingen, Germany) has acquired the Swiss-based company, Wave Biotech AG (Tagelswangen, Switzerland). The two companies have already been closely working together since 2006; in addition to joint research projects, Sartorius Stedim Biotech 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 $12.7 million. The acquisition, which is subject to clearance by the antitrust authorities, is expected to be completed in December 2008. Financial terms were not disclosed.

Wave Biotech began as one company, and then split into two, Wave Biotech AG and Wave Biotech LLC. In 2007, GE Healthcare bought the US-based Wave Biotech LLC.