Recipharm acquisition strengthens GenIbet’s expertise and global projection
The transaction allows Recipharm to benefit from GenIbet's know-how in the biopharmaceutical sector. GenIbet strengthens its technical capabilities, adds global recognition to its activity and helps to contribute to the quality of the research carried out in Portugal.
Recipharm, a global Contract Development and Manufacturing Organization, announced recently that it now owns 100% of GenIbet’s capital. This acquisition marks Recipharm’s entrance into the biopharmaceuticals market, benefiting from GenIbet’s path of innovation in this area. In turn, GenIbet can now profit from a more robust technological and industrial structure and from the parent company’s global reach.
With this operation, Portugal can also assume a more prominent role in the biotechnology sector, namely in terms of foreign investment, research, qualified employment and linkage to universities.
“We’ve enjoyed a great deal of success at GenIbet, and now is a fantastic time to be joining with Recipharm to share our expertise and broad service offer”, states Raquel Fortunato, the company CEO, in a news release issued in the company’s Linkedin page.
For his part, Mark Funk, Recipharm’s CEO, notes that “GenIbet is a leading player in this area and so we are proud to bring it into the Recipharm universe. We look forward to working closely together, building links with all of Recipharm in order to make this business a great success.”
GenIbet – a spin off company from iBET, the largest private Biotechnology Research Organization in Portugal, was the first biopharmaceutical company on the Iberian Peninsula with a GMP (Good Manufacturing Practices) certification, granted in 2009. Its 1st project was in the development and production of a typhoid fever vaccine, introduced by GVGH – a not-for-profit organization from GSK – in the Indian market in 2020. More recently, it has also played a crucial role in the development of mRNA technology, partnering with Moderna to take their very first mRNA vaccine in the clinic at the end of 2015.
Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, pharmaceutical product development and development and manufacturing of medical devices. It has roughly 9000 employees spread across its headquarters in Stockholm (Sweden) and facilities in France, Germany, India, Israel, Italy, Portugal, Spain, United Kingdom and United States.
Until now, GenIbet’s capital was owned by iBet (49,66%), Medinfar (25,30%), Nutrinveste (12,88%) and Pentafar (11,15%).
Read more about the GenIbet acquisition by Recipharm:
https://www.ibet.pt/genibet-acquired-by-swedish-cdmo-recipharm/