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Investment firm set to complete sales negotiations with Stallergenes

AresLife Sciences to buy French pharmaceutical company for £678m

29 October 2010

Investment firm AresLife Sciences has announced that is has completed sales negotiations with French pharmaceutical company Stallergenes.

Stallergnenes have accepted a 59 euros-a-share offer for a 45.87 per cent stake in the company, in a deal worth around 780 million euros (£678 million). The transaction is still subject to regulatory scrutiny.

Jacques Theurillat, chief executive of Ares Life Sciences, praised Stallergenes for their work in the immunotherapy market and their new product range.

He said: "At Ares Life Sciences, with our team of seasoned healthcare executives, we seek to invest in market and technology leaders like Stallergenes, with the objective of assisting them achieve their full growth and R&D potential.

"Our pharmaceutical industry experience and financial resources will be at the disposal of Stallergenes' outstanding management team to assist them in achieving their global expansion and growth targets."

Stallergenes is one of the biggest biopharmaceutical companies in Europe and specialises in allergy immunotherapies.  

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