On completion of the envisaged transaction, the governance of the company will also enter a new stage, with Stanislas Desjonquères, the Chairman of the Comité de Surveillance (Supervisory Committee) and representative of the historical shareholder (MAG, Desjonquères family), leaving his position. Adrien Nivoliez, the current General Manager of Biose Industrie will become President.
Aurillac, 15 February 2023
Biose Industrie is an industrial pharmaceutical laboratory ranked as world leader in the industrial manufacturing of microorganisms for human health. Since the company was founded in 1951 in Aurillac in the Cantal area of France, Biose Industrie has demonstrated its ability to develop a unique and innovative competence in industrial microbiology in compliance with pharmaceutical standards and regulations (ANSM, EMA, FDA). The company is specialized in the field of Live Biotherapeutic Products, also referred to as LBPs ; innovative active ingredients that are at the origin of a new category of medicine.
With a rapidly expanding market, Biose Industrie has experienced constant growth since 2017, working hand in hand with biotech companies and pharmaceutical laboratories that are investing to develop and offer a new category of microbiota medicine. This growth results from the emergence of biomedicine, whose innovative applications can be found in a wide variety of therapeutic areas, particularly gastrology, oncology, gynaecology, dermatology and metabolic disorders.
In this context, a joint investment by the French State through the “French Tech Souveraineté” scheme, a system operated by EPIC Bpifrance and managed by Bpifrance as part of its France 2030 investment plan, and L-GAM, would allow them to acquire joint control of Biose Industrie in order to notably finance the next investment plan which will increase the company’s industrial capacity in Aurillac. For this new phase of growth, Biose Industrie has high ambitions focused on three priority areas : (i) maintain and develop its technological and industrial advantage versus competition, (ii) continue recruiting staff in high numbers and (iii) expand its international presence where the company already has a number of clients.
On completion of the transaction, which remains subject to all applicable regulatory authorisations, “French Tech Souveraineté” and L-GAM will become shareholders alongside Adrien Nivoliez, the future President of Biose Industrie, other Biose managers, the Fonds Souverain Auvergne-Rhône-Alpes managed by Siparex and the Desjonquères family.
Stanislas Desjonquères, representative of MAG and Chairman of the Comité de Surveillance (Supervisory Committee) : “As historical shareholders, our priority has always been to provide Biose Industrie with the financial means to expand. This new transaction follows the same philosophy and we are really pleased with its outcome. It also marks a new point in the governance of the company. As MAG is becoming a minority shareholder, I will leave my position as Chairman of the Comité de Surveillance (Supervisory Committee), and Adrien Nivoliez will become President. He has my full confidence to lead the company in this new phase of development.”
Adrien Nivoliez, CEO of Biose Industrie : “As an industrial partner (CDMO – Contract Development Manufacturing Organization) naturally intent on serving our clients, we are proud to contribute with them to improving the health of all the patients affected by their research programmes. Central to our plans to grow, lies a heartfelt desire to continue to expand with our clients to ensure that we are in a position to meet all their needs. I am extremely excited to see the success and finalisation of the financing of this new stage in the company’s growth and I emphasize once again the company’s high ambitions.”
Jérôme Bertrand, Partner at L-GAM : “We are very pleased to be able to support Adrien Nivoliez and his teams in this new phase of growth. Over the last few years, Biose Industrie has demonstrated global leadership in the CDMO market for biotech companies and pharmaceutical laboratories developping new therapies based on human microbiota. The development of Live Biotherapeutic Products (LBPs) is at a new inflection point with the launch of several phase 3 clinical trials in the coming years. We are very enthusiastic about the prospects for Biose Industrie and we are committed to supporting the company’s development in the years to come.”
Jérôme de Bucy, Director of Investment at Bpifrance that manages the “French Tech Souveraineté” scheme : “We are delighted to support Biose Industrie in the next stages of its development. This investment, made through the “French Tech Souveraineté” scheme, marks our support of a company that, in just a few years, has succeeded in becoming the world leader in its field thanks to its agility and long-term vision, while locally structuring a strategic and innovative branch of activity. On a national level, the development of Biose Industrie is key to maintaining France’s leading position in the development of therapies based on LBPs and is firmly rooted in the goals to produce biomedicines defined by the France 2030 investment plan.”
About Biose Industrie
Originally called Laboratoires Lyocentre and established in 1951, Biose Industrie was bought by the Desjonquères family in 1997, who pursued its historical development as a CDMO specialized in the industrial manufacturing of microorganisms compliant with pharmaceutical standards and regulations for human health. Today Biose Industrie’s turnover is largely generated by international sales, over half of which are in the USA. Locally, Biose Industrie is at the forefront of the industrial scene and employs over 300 people.
L-GAM (www.l-gam.com) is a long-term oriented investment firm with capital commitments in excess of €1 billion. L-GAM was established in 2013 with the backing of the Princely Family of Liechtenstein and several families from Europe, Asia and the USA. Its unique and differentiated business model is based on long-term, industrial-like investment focus and a flexible mandate to provide investment solutions throughout the capital structure. L-GAM focuses on partnering with small and medium sized companies across Europe. L-GAM has invested , among others, in Jardiland (France), Faist ChemTec (Germany), Grupo BC (Spain), Cyber Group Studios (France), Woolrich (Italy and USA), Amplitude Laser Group (France), Centro Medico Santagostino (Italy), Ancorotti Cosmetics (Italy), Vinventions (Belgium) and Cotta (Liechtenstein).
About French Tech Souveraineté
The “French Tech Souveraineté” scheme was launched by the French government in June 2020 and is an investment scheme aimed at both promoting and protecting business development in France. The government has injected a total amount of €650 million into the scheme to support French technological companies developping technologies of the future of national interest and that could be prey to large foreign companies or overtaken by competitors with stronger financial means. The “French Tech Souveraineté” agreement designates EPIC Bpifrance as the operator of the scheme and Bpifrance Investissement to manage the implementation and monitoring of investment files.
About France 2030
The France 2030 investment plan:
- Reflects a two-fold ambition : To bring sustainable transformation to key sectors of France’s economy (health, energy, automobile, aerospace) through technological innovation and to position France as not only a player in the world of tomorrow, but as a true leader. From fundamental research aimed at the emergence of an idea to the production of a new product or service, France 2030 supports the whole life cycle of innovation right up to industrialization;
- Is of an unprecedented scale : €54 billion will be invested so that France’s companies, universities and research institutions successfully achieve their transition towards these strategic sectors of activity. There is much to gain in this challenge, namely enabling them to face ecological challenges and remain attractive in our changing world while remaining competitive, and triggering the emergence of future champions of France’s sectors of excellence. France 2030 is defined by two transversal objectives consisting in devoting 50% of its funds to decarbonizing the economy and 50% to supporting emerging entities working on innovative projects without investment that negatively impacts the environment;
- Will be implemented collectively : The investment plan has been designed and deployed in consultation with economic, academic, local and European stakeholders to determine the strategic orientations and key actions. Project leaders seeking to benefit from government funding are invited to submit their applications through open, stringent and selective procedures;
- Is managed by the French General Secretariat for Investment (Secrétariat général pour l’investissement) on behalf of France’s Prime Minister and is implemented by Bpifrance, the French Agency for Ecological Transition (Agence de la transition écologique, ADEME), the French National Agency for Research (Agence nationale de la recherche, ANR) and the Caisse des Dépôts et Consignations (CDC).
Plus d’informations sur : https://www.gouvernement.fr/france-2030 | @SGPI_avenir
Transactions in equity by Bpifrance are conducted by Bpifrance Investissement. Bpifrance finances companies at every stage of their development by providing credit, guarantees and equity. Bpifrance supports them in their innovation projects and in the development of international markets. Bpifrance also insures their export activity thanks to a wide range of products. Advice, contacts with universities, networking and acceleration programmes for startups, small, medium and intermediary sized companies are also part of the offer made available to business entrepreneurs.
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About the Fonds Souverain Auvergne-Rhône-Alpes
Created by the Auvergne-Rhône-Alpes region and managed by Siparex, the Fonds Souverain Auvergne-Rhône-Alpes results from a public-private partnership that reunites the region’s major economic stakeholders. It accompanies small, medium and intermediary sized companies in the key stages of their transformation, particularly the acceleration of the development of companies in fields that represent strategic challenges for the Auvergne-Rhône-Alpes region. Siparex provides support for companies in their development and transformation. The Siparex Group has capital commitments amounting to €3.2 billion.