Jubilant Biosys Innovative Research Services,, Singapore (JBIRSPL), subsidiary of Jubilant Biosys (JBL), a wholly owned subsidiary of Jubilant Pharmova, has signed and issued a “put option offer” to Pierre Fabre Laboratories (PF), which setsforth an offer to acquire 80% equity capital (approx. Euro 4.4 million over a period of 2 years) in a new company to be incorporated in France, which new company shall acquire Pierre Fabre's R&D Centre (Including R&D Site and R&D activities) at Saint Julien, France.
The aforesaid contemplated collaboration is subject to prior consultation of the PF works council and approval of the offer by PF, as well as finalization of definitive agreements and customary closing conditions.
Post‐closing of the transaction:
- New Company would utilize this R&D Centre with capability to collaborate with Big Pharma & Biotech Customers in Europe & USA.
- This contemplated transaction would enable JBL to strengthen its drug discovery capabilities in the fields of biologics and antibody drug conjugates (ADC).
- PF may invest 20% equity capital (approx. Euro 1.1 million over a period of 2 years) in a new company for a maximum period of 5 years, during which time they may continue to provide support to the new company to transition the R&D Centre into fully independent contract research organization, with PFG having no access to any proprietary information or IP related to the R&D Centre.
- PF may also hire services from JBL aggregating to Euro 7 million for first 4 years