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Biolin Scientific in deal to buy Sophion Bioscience.

MANews-(C)2009-2011

Swedish biotechnology instruments firm Biolin Scientific (STO:BLIN), owned by private equity firm Ratos, said today it would buy Danish automated patch clamping (APC) solutions provider Sophion Bioscience for DKK145m (USD28m/EUR19.4m) and earn-outs of DKK10m.

Sophion is being sold by Danish biopharmaceutical company NeuroSearch A/S (CPH:NEUR) and a number of venture capital firms, the buyer said in a press release. Ratos will provide SEK50m (USD7.9m/EUR5.5m) of the price, it said.

The acquisition will boost Biolina[euro](tm)s life science business and expand its customer base, the buyer explained.

The Copenhagen-based firm employs 50 staff and recorded sales of DKK83m and EBITA of DKK8m last year.

Completion is expected during the third quarter.Country: Denmark, Sector: BiotechnologyTarget: Sophion Bioscience A/SBuyer: Biolin Scientific AB, Ratos ABVendor: NeuroSearch A/S , Venture capital firmsDeal size in USD: 30mType: LBOStatus: AgreedComment: Deal size includes earn-outs.

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Publication:M & A Navigator
Date:Jul 6, 2011
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