ArchiMed buys three French biotech businesses

Following the recent acquisition of the Franco-Italian neurodiagnostic business Micromed in July 2016, the GP has acquired majority stakes in Strasbourg-based transfection reagents manufacturer Polyplus Transfection and French organic ingredients producers HIS and Fytexia. According to a statement, the GP purchased the companies in off-market transactions.

ArchiMed bought a majority stake in HIS from the company's founders, who will retain a minority stake in the business alongside former Naturex COO Maxime Angelucci, who will become the company's CEO.

In the buyout of Polyplus, its management team also re-invested in the business for a minority stake.

The three companies intend to use the capital injection to boost their product development and enlarge their products portfolio. The GP stated it will consider strategic acquisitions to expand the businesses internationally.

ArchiMed invested in the three businesses through its maiden fund, Med 1, which held a final close on €150m in June 2015.

Previous funding
Polyplus raised €610,000 of funding from Avenir Finance Gestion in September 2001. CIC Finance subsequently led a €2m funding round in the company alongside existing investor Avenir Finance in March 2003. More recently, the company's shareholders led a further €1.2m funding round in December 2009, while TechFund Capital Europe led an additional €2.5m round in January 2011.

Company
Founded in 2003 and headquartered in Béziers, Fyxteia develops and distributes clinically effective natural ingredients for food supplements based on polyphenols. The company claims a presence across 40 countries. In 2013, the company opened a subsidiary in New York to reach the North American market and in 2016 an additional office in Malaysia to serve the Asian market.

HIS was founded in 1999 and is headquartered in Lyon. The company produces organic food ingredients.

Polyplus develops transfection reagents targeting cell therapy treatment, for research and production of proteins and viruses. Established in 2001, the company is headquartered in Strasbourg and has two subsidiaries in New York and Hong Kong.

People
ArchiMed – Denis Ribon (co-founder, chair); Vincent Guillaumot, Robin Filmer-Wilson (co-founders, managing partners); Loic Kubitza (operating partner).
Fyxteia – Lionell Schmitt (chair).
HIS – Maxime Angelucci (CEO).
Polyplus Transfection – Jean-Paul Behr (co-founder); Gabriel Festoc (CEO).

Advisers
Equity [Fyxteia deal] – LEK (commercial due diligence); Mazars (financial due diligence); Orsay (legal, tax).
Equity [HIS deal] – Alcimed (commercial due diligence); Ginestié (legal); Neptune (tax).
Equity [Polyplus Transfection deal] – Squareness (corporate finance); Cepton Strategies (commercial due diligence); Mazars (financial due diligence, tax); Dentons (legal); Neptune (tax).
Company [Polyplus Transfection] – Invest Corporate Finance (M&A).

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