DIM Sartorius Stedim Biotech SA

By Joshua Kirby

Sartorius AG said Friday that it has reached a deal to buy French gene-therapy technology company Polyplus from a group of private investors for around 2.4 billion euros ($2.62 billion)

Strasbourg-based Polyplus should make sales in the double digits of millions of euros in 2023, along with a "substantial" profit margin, Sartorius said.

The company is active in fields including transfection reagents, plasmid design and protein manufacturing, and also has sites in Belgium, the U.S. and China, Sartorius said.

The German pharmaceutical firm will fund the acquisition from investors including Archimed and WP GG Holdings via a bank loan, to be repaid with instruments that could include an equity component, it said.

The transaction should be completed in the third quarter this year, subject to standard approvals and conditions, Sartorius said.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

March 31, 2023 03:21 ET (07:21 GMT)

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