Recipharm AB and Cobra Biologics Holding AB are pleased to announce that they have today completed a transaction whereby Cobra Biologics Holding AB has acquired Recipharm AB’s shares in the operating companies of RecipharmCobra Biologics located in Keele, UK and Södertälje, Sweden.
The shareholders in the new company will be made up of the Management Team, Zentricity Holding AB and Recipharm AB.
Thomas Eldered, CEO of Recipharm AB commented “Following a strategic review we have decided to concentrate resources on our core business of pharmaceutical development and commercial manufacturing services for the time being. In the long term we still believe the contract development of biologics is an extremely important business and this transaction will allow us to both retain a stake in and maintain close links with Cobra Biologics. They will continue to be an important partner in this sector and we wish the team every success for the future”.
Peter Coleman, who was previously General Manager of RecipharmCobra Biologics will become the CEO of Cobra Biologics Holding AB. He commented “Our new shareholders allow us to remain financially stable whilst focusing on our core business of biologics contract development and manufacturing. We also have the added advantage of continuing our relationship with Recipharm AB”.
Cobra Biologics Holding AB will continue to trade as RecipharmCobra Biologics.