GENOVAC to continue: Purchased by US company
Aldevron Freiburg/Fargo. The Freiburg based biotech company GENOVAC has been purchased by the US company Aldevron LLC with effect on 1st January 2004. The purchase will have a positive effect on both companies growth and their respective market position in the field of antibody generation. Both companies have specialized in the area of genetic immunization to develop antibodies, although they use different approaches they have a common goal: to provide industry and academia a service of superior quality and speed compared to conventional approaches. GENOVAC focuses on monoclonal antibodies, whereas Aldevron's emphasizes on polyclonal antisera, which in return has a synergistic effect.
The direct access to the important US market will open up new business opportunities for GENOVAC. In return Aldevron will gain access to the trinational BioValley, a European location within a recovering biotechnological environment. This will enable them to establish their actual main business in Europe, the cGMP DNA-production. Market research institutes foresee a positive market development, since antibodies are undergoing a renaissance after the complete sequencing of the human genome: as analytic tools in academic and pharmaceutical research, as molecular probes in diagnostic test systems and as new therapeutic drugs with fewer side effects. Michael Chambers, CEO of Aldevron: 'GENOVAC is a world-leader in the field of antibody generation by genetic immunisation. Both parties will profit from this strategic alliance: economically and scientifically.'
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