Biotech landscape consolidates
Munich – German firms are beginning to actively consolidate the fragmented biotech company landscape. Companies such as MediGene and Lion bioscience are buying, whereas compatriots Axaron or Combinature, amongst others, are being acquired (see report below).
Dietmar Hopp is playing a very active role in strengthening German biotech companies. The software billionaire who founded SAP AG, today the largest developer of business software worldwide, has invested about a200 million in 12 biotech companies, mainly in Germany. He recently spent a21 million to support the merger of the former bioinformatics specialist Lion, which had sold all of its operational business, with the drug developer Axaron. Further support came from BASF AG, a supporter of Axaron for many years. The move by MediGene AG, which bought British Avidex for a50 million in stock, lead to a mixed reaction in the German biotech scene: “A good extension of the pipeline” or “too expensive and risky” were among the remarks. Avidex’ lead product RhuDex, an oral CD80 inhibitor for the treatment of autoimmune diseases, is currently in a phase IIa trial.