Navigation Links
Stallergenes Welcomes Ares Life Sciences as a New Reference Shareholder
Date:11/10/2010

Stallergenes Welcomes Ares Life Sciences as a New Reference Shareholder -- ANTONY, France, November 10, 2010 /PRNewswire-FirstCall/ --


Advanced Search Search

  
Close
  1. Send a release
  2. Member sign in
  3. Become a member
  4. For journalists
  5. Global sites
PR Newswire: news distribution, targeting and monitoring
  1. Products & Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
Biotechnology, Health Care & Hospitals, Medical Pharmaceuticals, New Products & Services Click to view news release full screen  

Stallergenes Welcomes Ares Life Sciences as a New Reference Shareholder

 

ANTONY, France, November 10, 2010 /PRNewswire-FirstCall/ -- Following the announcement that Wendel had entered exclusive negotiations with Ares Life Sciences on October 28, 2010, with a view to selling its entire stake (around 46%) in Stallergenes, the company's Works Council met on November 10, 2010.

Stallergenes' Works Council having returned a positive consultative opinion at this meeting, Wendel and Ares Life Sciences proceeded to sign a firm transfer agreement.

It is in this context that the Stallergenes Board of Directors met today. It took note of Ares Life Sciences' intention to pursue the development of Stallergenes from the company's French industrial footprint (production units and R&D centre in Antony and Amilly), accelerate the execution of the company's strategic roadmap, as well as further support its international development, notably in the US. The Stallergenes Board of Directors took also note that Ares Life Sciences does not foresee any change within Stallergenes' jobs, salary or human resources policies.

During the meeting, Stallergenes' Chairman and CEO, Albert Saporta, has declared: "The Ares Life Sciences team, which has already enjoyed some major successes on the European and American pharmaceutical markets, has a thorough understanding of the issues related to our sector and supports our entrepreneurial vision. This expertise will be of great benefit to the company in its current expansion phase".

The Board of Directors also took note of the resignation of four of its directors (Messrs. David Darmon, Arnaud Fayet, Dirk-Jan Van Ommeren and Compagnie Financiere de la Trinite) and decided to co-opt Mrs Paola Ricci and Messrs Jacques Theurillat, Patrick Lee, and Christian Chavy to replace them. These changes of board directors remain subject to the completion of the sale of Wendel's stakeholding in Stallergenes to Ares Life Sciences.

Given the absence of any conflict of interest with respect to the planned sale, the Board members also decided to appoint the accountancy firm Ledouble SA as an independent expert with a view to issuing a fairness opinion in the context of the takeover bid that Ares Life Sciences will submit regarding the totality of Stallergenes' shares in application of the regulations in force. This appointment will come into force on the date of transfer of Wendel's stakeholding.

Stallergenes and Ares Life Sciences' management teams will hold a joint telephone conference on Wednesday November 17 at 6 p.m. to answer questions related to this change in shareholding.

In application of the provisions of the AMF's General Regulations, the Board of Directors may publish its opinion on the value of the said takeover bid or its consequences for Stallergenes, its shareholders and its employees on the internet once the planned bid has been submitted to the market authority.

About Stallergenes

Stallergenes is a European biopharmaceutical company dedicated to immunotherapy treatments for the prevention and treatment of allergy-related respiratory diseases, such as allergic rhinoconjunctivitis, rhinitis and asthma.

A pioneer and leader in sublingual immunotherapy treatments, Stallergenes dedicates more than 20% of its turnover, in gross terms, to Research and Development and is actively involved in the development of a new therapeutic class: sublingual immunotherapy tablets. In 2009, Stallergenes had a turnover of 193 million euros and more than 500,000 patients were treated with Stallergenes' immunotherapy products.

Euronext Paris (Compartment B) SBF 120. ISIN code: FR0000065674 Reuters code: GEN.PA Bloomberg code: GEN.FP For further information, please visit our website: http://www.stallergenes.com
'/>"/>

SOURCE Stallergenes
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Stallergenes: First Half Year 2008: A 19% Increase in Operating Profit and Net Profit
2. Stallergenes Inaugurates the Biggest Pharmaceutical Allergen Production Unit in the World
3. Stallergenes: Sales at end September 2008: + 17% - 2008 Sales Guidance Revised Upwards: + 14%
4. Stallergenes: Launch of a Phase III Clinical Trial in Adults for Oralair(R) Grasses in the United States Operating Income Expected to Remain Stable in 2009
5. Stallergenes: 2008: Sales Up 16% - Excellent Performance - Guidance Exceeded
6. Stallergenes Signs an Exclusive Partnership Agreement With Solvay Pharmaceuticals for the Promotion and Distribution of its Products in Russia and the CIS*
7. STALLERGENES: 2008: Strong Performance
8. Stallergenes : Investor Meeting: Webcast is Available
9. STALLERGENES: Strong Sales Growth in 1st Half-Year: up 12% Full-Year Guidance Maintained
10. STALLERGENES: 1st Half-Year 2009: Performance Ahead of Expectations
11. STALLERGENES: Immunotherapy Tablet Containing Recombinant Allergen (rBet v 1) of Birch Pollen: Positive Results for a Phase IIb/III Trial
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... , June 23, 2016   Boston Biomedical ... novel compounds designed to target cancer stemness pathways, ... been granted Orphan Drug Designation from the U.S. ... of gastric cancer, including gastroesophageal junction (GEJ) cancer. ... designed to inhibit cancer stemness pathways by targeting ...
(Date:6/23/2016)... , ... June 23, 2016 , ... ... YM (Yeast and Mold) microbial test has received AOAC Research Institute approval 061601. ... microbial tests introduced last year,” stated Bob Salter, Vice President of Regulatory and ...
(Date:6/23/2016)... ... June 23, 2016 , ... Supplyframe, the Industry Network for ... Design Lab . Located in Pasadena, Calif., the Design Lab’s mission is to ... are designed, built and brought to market. , The Design Lab is Supplyframe’s ...
(Date:6/23/2016)... BEACH, Calif. , June 23, 2016  Blueprint ... new biological discoveries to the medical community, has closed ... co-founder Matthew Nunez . "We have ... us with the capital we need to meet our ... will essentially provide us the runway to complete validation ...
Breaking Biology Technology:
(Date:4/28/2016)... First quarter 2016:   , Revenues amounted ... quarter of 2015 The gross margin was 49% (27) ... the operating margin was 40% (-13) Earnings per share ... operations was SEK 249.9 M (21.2) , Outlook   ... M. The operating margin for 2016 is estimated to ...
(Date:4/15/2016)... -- Research and Markets has announced the ...  report to their offering.  ,      ... gait biometrics market is expected to grow at ... Gait analysis generates multiple variables such ... compute factors that are not or cannot be ...
(Date:3/29/2016)... RATON, Florida , March 29, 2016 ... or the "Company") LegacyXChange "LEGX" and SelectaDNA/CSI Protect are ... DNA in ink used in a variety of writing ... theft. Buyers of originally created collectibles from athletes on ... through forensic analysis of the DNA. ...
Breaking Biology News(10 mins):