Millipore Corporation recently announced that it has entered into an agreement to acquire NovAseptic AB. The all cash transaction will result in Millipore acquiring all of the shares of NovAseptic AB for approximately SEK 720 million ($91 million at current exchange rates). NovAseptic, based in Gothenburg, Sweden, provides a range of solutions for aseptic processing applications in biotech and pharmaceutical manufacturing operations. NovAseptic’s products include a unique disposable sampling system (NovaSeptum®) and a range of high-performance mixers, valves, and connectors.
Martin Madaus, Millipore’s Chairman, CEO and President, noted: “NovAseptic’s products and customer relationships are a strong strategic fit with Millipore’s Bioprocess Division. The talented scientists and engineers at NovAseptic also enhance our already strong applications expertise in the area of aseptic processing. As part of our overall growth strategy, the acquisition of NovAseptic accelerates our plan to expand the breadth of our solutions to biotech and pharmaceutical customers, particularly in the areas of high-performance components and process monitoring tools.”
The patented NovaSeptum disposable sampling system is used by biotech and pharmaceutical companies to take fluid samples from their drug manufacturing processes. The fully-closed system eliminates the risk of false positives due to biological contaminants, and greatly improves operator productivity and safety. NovaSeptum has been adopted by a number of pharmaceutical and biotechnology companies, and several new evaluations are in progress.
NovAseptic’s other aseptic processing components include high-performance mixers and valves, optimally designed for performance and reliability in stringent drug production environments. These components enjoy an exceptional quality reputation with customers.Johan Westman, Managing Director of NovAseptic, commented: “NovAseptic AB has been looking for a strong partner to more rapidly expand its offering to a broader range of customers worldwide, and Millipore is a perfect match. We are both active in process sampling and monitoring, and in critical bioprocessing components; the product lines are complementary; and, most importantly, we share a vision of the industry’s future and the role we can play in that future.”
Terms of the agreement call for Millipore to purchase over 90 percent of the shares of NovAseptic AB from founders and other majority owners. Millipore expects the balance of shares to be purchased on similar terms from the remaining shareholders. The transaction is expected to close, subject to regulatory approval and customary closing conditions, within the next 45 days.
