SK bioscience, a Seongnam, South Korea-based vaccines and biologics company, has agreed to take a 60% stake in IDT Biologika, a Dessau-Rosslau, Germany-based CDMO, for approximately KRW 339 billion ($244 million). IDT Biologika is a CDMO of viral vaccines, viral vectors for cell and gene therapies as well as oncolytic viruses, other biologics, and aseptic liquid filling and lyophilization for biologics.

IDT Biologika’s main site is in Dessau-Rosslau, Germany. It also has a second European facility in Magdeburg, Germany, which provides additional process development laboratory capacity that supports the Dessau-Rosslau site in cell-culture technologies, fermentation, virus production, and process analytics. It also has a site in Rockville, Maryland. Overall, it has approximately 1,800 employees.

Earlier this year (March 2024), SK bioscience broke ground on an expansion of its vaccine manufacturing plant, L HOUSE, located in Andong, Gyeongsangbuk-do, South Korea. The addition of approximately 4,200 square meters of new space will serve as a production base for its pneumococcal conjugate vaccine candidate, GBP410, jointly developed by SK bioscience and Sanofi, which is co-investing in the expansion.

SK bioscience’s 60% stake in IDT Biologika for $244 million, includes some of the existing shares held by the Cloquet Group, a venture capital group, and approximately EUR 75 million ($82 million) of new shares issued through a paid-in capital increase, through a wholly owned subsidiary established in Germany. Upon completion of the stock acquisition, SK bioscience will become the largest shareholder of IDT Biologika. Cloquet Group will also maintain its 40% stake in IDT Biologika while investing approximately KRW 76 billion ($55 million) to acquire a new 1.9% stake in SK bioscience. As a result, SK bioscience will complete the acquisition process with approximately KRW 263 billion ($172 million) in cash on hand.

Source: SK bioscience