Biovian and 3P Biopharmaceuticals Combine to Form 3PBIOVIAN

Biovian and 3P Biopharmaceuticals, two leading biologics Contract Development and Manufacturing Organizations (CDMOs), announced their combination to establish a new pan-European leader in their field.

Backed by their common shareholder, Keensight Capital, one of the leading private equity funds dedicated to pan-European Growth Buyout[1] investments, the combination of Biovian and 3P further extends the group’s value proposition to address complex customer needs across the entire development cycle.

The combined Group, named 3PBIOVIAN, will offer unparalleled end-to-end development and manufacturing services for all protein expression systems and viral vectors, both for Drug Substance and Drug Product, from preclinical to clinical development and commercial phases. Leveraging a joint 40-year track record, expertise, capabilities, and financial strength, the Group will position itself as a leading pan-European independent biologics CDMO, aiming to spearhead the development of drugs tackling patients’ unmet clinical needs.

Through this combination, the Group will become one of the main independent European bio-CDMOs, with gross sales above €75m. Biovian and 3P Biopharmaceuticals have each delivered consistent double-digit growth historically, and this organic growth will underpin the development of the combined business going forward. With over 500 professionals and operating across manufacturing facilities of 15,800 square meters, the group is now ideally positioned to effectively address the growing demands of the market.

3PBIOVIAN will leverage its manufacturing sites in Pamplona-Noáin (Spain) and Turku (Finland) as well as its commercial office in Boston, MA (United States) to address an extensive array of customer needs. Its end-to-end offering will span across multiple platforms (microbial and mammalian expression, adenoviruses, adeno-associated viruses, cell therapy and plasmids) and offers enhanced production scale flexibility via a diverse range of bioreactor sizes. This comprehensive set of services will target a global base of biopharma clients looking for scientific expertise, premium quality, and outstanding customer service.

3PBIOVIAN will continue to be led by its team of seasoned professionals in the biologics industry, driving its growth ambitions going forward. Dámaso Molero Sánchez (former 3P CEO) will serve as Group CEO supported by Deputy CEO Antti Nieminen (former Biovian CEO), Heidi Suuronen as CFO and Elena Erroba as CCO (Chief Commercial Officer).

The Group will also count on a world-class Board of Directors which includes several eminent industry veterans to assist the company in its journey through their strategic vision and expertise:

After supporting the two management teams over the past 5 years, Keensight Capital will continue to help the Group strengthen its leading position at a global level by bringing more than 20 years of expertise in healthcare, and its highly international network. ERES IV, advised by Elyan Partners, and Sodena, will each continue as minority shareholders alongside Keensight, maintaining their investment in the Group.

Antti Nieminen, CEO at Biovian, said: “We are thrilled about this opportunity and the new chapter for our combined companies. The highly synergistic and comprehensive service offering allows 3PBIOVIAN to further enhance its competitiveness in the biologics CDMO market. With a combined 40-year track record and a commitment to quality, both companies have always prioritized customer-centric service. The consolidation of these two technically and financially strong players creates a powerful global end-to-end service provider. We are also extremely glad to be able to continue the journey alongside Keensight, jointly investing in the future development of the firm, and striving to further improve our client satisfaction as well as build a great workplace for our highly talented people.”

Dámaso Molero Sánchez, CEO at 3P Biopharmaceuticals, added: “I am very delighted about this exciting new stage, which is nothing more than the consequence of the enormous and excellent work done by Biovian and 3P over the years. The combination of technology, capabilities and most importantly, the quality of the human team, positions us a leader in the highly dynamic international market for the development and manufacturing of advanced therapies. Together, we will be able to unleash the enormous potential for growth and value generation that we have accumulated over the years.”

Pierre Remy, Managing Partner at Keensight Capital, concluded: “We are extremely enthusiastic about the merger of Biovian and 3P Biopharmaceuticals. The Companies’ operational complementarity and strategic alignment will perfectly address the ever-complexifying demand for protein expression systems globally. This combination is also a testament to Keensight Capital’s commitment to innovation and operational excellence, and is poised to deliver substantial value to our investors.”