Crucell to sell Rhein Biotech GmbH to Dynavax

29-Mar-2006

Crucell N.V. announced plans to divest biopharmaceutical and vaccine manufacturer Rhein Biotech GmbH in a cash transaction. Rhein Biotech GmbH is part of Rhein Biotech N.V., a company 93% owned by Berna Biotech AG. Berna Biotech was recently acquired by Crucell N.V. Rhein Biotech GmbH is headquartered in Düsseldorf (Germany) and has approximately 45 employees. It will be acquired by Dynavax Technologies Corporation.

The transaction is designed to accomplish key strategic goals for both Crucell and Dynavax. The transaction enables Crucell to continue to focus on core competencies by divesting a number of non-strategic assets. The divestment is an important step towards aligning Crucell's portfolio of activities with its strategic priorities.

Under the terms of the planned acquisition, Dynavax will pay approximately EUR 10 million (US$ 12 million) in cash in exchange for 100% of Rhein Biotech GmbH's shares. The transaction will need to be approved by Rhein Biotech NV shareholders. On the basis of the currently available information Crucell has undertaken to procure that Berna Biotech AG votes in favour of the divestiture of Rhein Biotech GmbH. The transaction is anticipated to close in the second quarter of 2006.

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