press release
Browne Jacobson leads on £2m biotech acquisition
8 December 2010
Browne Jacobson has advised Source BioScience on its £2m cash
acquisition of German based imaGenes.
Nottingham based Source BioScience provides specialist products
and services to the healthcare, biotech and life science research
sectors. The business is split into three inter-connected divisions
- Healthcare, Pharma Biotech and Life Sciences - and employs around
100 people.
Based in Berlin, imaGenes was formed in 2007 following the
management buy-out of the German Resource Centre for Genomics. It
specialises in providing leading edge genomic products and services
to universities, government laboratories, biotechnology and
pharmaceutical companies around the world and currently employs 30
people.
Gavin Cummings, Corporate Partner, led the Browne Jacobson team.
He commented:
"We are pleased to have helped Source BioScience on this
internationally strategic acquisition. We were ideally placed to
provide support through Pangea net, our international network,
which allowed us to manage the transaction from the UK and provide
local advice on the ground in Germany."
Dr Nick Ash, CEO of Source BioScience, said: "The acquisition of
imaGenes provides a platform for increased penetration of the
European life science research and healthcare markets, acting as a
catalyst for accelerated growth. The imaGenes team will bring
significant depth of experience and knowledge to the Group and we
will be able to leverage their existing links with academic centres
and research institutions across Europe."