Siegfried Takes Majority Stake in Dinamiqs
Swiss CDMO Siegfried has acquired a 95% stake in Dinamiqs, a compatriot biotech focused on developing and manufacturing viral vectors for cell and gene therapies.
Initially, Dinamiqs will continue to operate under its own name and as a largely independent company within the Siegfried Group. In this way, said Siegfried, Dinamiqs will retain its high agility and flexibility while at the same time being supported by Siegfried’s global network.
Dinamiqs and its customers will also benefit from the integration of drug production into Siegfried's competencies and capabilities for aseptic filling of complex biological active ingredients at sites in Hamelin, Germany, and Irvine, California, USA.
As part of the deal, Siegfried will build a commercial-scale GMP-compliant production facility with flexible capacities of up to 500 liters. The plant will be located at Dinamiqs’ site in the Bio-Technopark in Zurich-Schlieren and is scheduled to go online in 2025.
"With this acquisition, we are entering the fast-growing market of cell and gene therapies, where the majority of clinical candidates in the well-filled development pipeline rely on viral vector-based technologies,” said Siegfried CEO Wolfgang Wienand.
“The path we have chosen of a manageable investment in a very powerful technology platform and its further flexible expansion through follow-up investments in line with market needs and technology trends gives us access to considerable value potential, and at reasonable entry costs,” he added.
Siegfried's total investment, including building the new production facility, will be a mid-double-digit million sum (in Swiss francs) and will be financed with existing cash and credit lines. Five years after the transaction closes, Siegfried will have the option to acquire the remaining 5% shareholding owned by Dinamiqs parent Dinaqor.
Author: Elaine Burridge, Freelance Journalist
