Brief: Siegfried Acquires Majority Stake In DiNAMIQS To Establish A Development And Manufacturing Organization For Cell And Gene Therapies

Siegfried Holding AG

04/05/2023 20:19

May 4 (Reuters) - Siegfried Holding AG  SFZN.S :
    * SIEGFRIED ACQUIRES MAJORITY STAKE IN DINAMIQS TO ESTABLISH
A
BEST-IN-CLASS DEVELOPMENT AND MANUFACTURING ORGANIZATION FOR
CELL AND GENE THERAPIES
    * SIEGFRIED ANNOUNCES ACQUISITION OF A 95% STAKE IN DINAMIQS
    * NEW MANUFACTURING FACILITY WILL BE LOCATED AT
BIO-TECHNOPARK IN
ZURICH-SCHLIEREN AND IS EXPECTED TO BE OPERATIONAL IN 2025
    * TOTAL INVESTMENT OF SIEGFRIED, INCLUDING ESTABLISHMENT OF
NEW
GMP FACILITY, WILL BE IN MID DOUBLE-DIGIT MILLION SWISS FRANCS
    * TOTAL INVESTMENT OF WILL BE FUNDED FROM EXISTING CASH AND
AVAILABLE FINANCING ARRANGEMENTS
    * FIVE YEARS FOLLOWING CLOSING OF TRANSACTION, SIEGFRIED HAS
OPTION TO ACQUIRE REMAINING 5% FROM DINAQOR
    * SIEGFRIED-DURING INITIAL PHASE OF SCALING UP MANUFACTURING
ACTIVITIES, DINAMIQS WILL CONTINUE TO OPERATE UNDER ITS NAME,
LARGELY INDEPENDENT VENTURE
    * ACQUISITION WILL HAVE A LIMITED IMPACT ON SIEGFRIED'S
FINANCIAL
PERFORMANCE IN SHORT TERM
    * SIEGFRIED GROUP EXPECTS ITS HALF-YEAR 2023 RESULTS TO BE
WELL ON
TRACK
    * EXPECTS ITS HALF-YEAR 2023 RESULTS TO BE WELL ON TRACK TO
SUPPORT FULL-YEAR RESULTS AT UPPER END OF CURRENT GUIDANCE


Further company coverage:  SFZN.S 

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