Biotage makes transformative acquisition of Astrea Bioseparations

Uppsala, Sweden – 15 February 2023 – Biotage AB (publ) (“Biotage”) has entered into an agreement to acquire Astrea Bioseparations (“Astrea”), a high-growth chromatography solutions provider from Gamma Biosciences (“Gamma”), a life sciences tools platform created by KKR. The acquisition also includes the shares held by certain minority investors in the Astrea group (together, the “Sellers”, and together with the acquisition of Astrea, the “Transaction”). The Transaction is conditional upon shareholder approval at a general meeting of Biotage and subject to customary closing conditions.

Astrea supports drug developers and manufacturers to bring high-purity biopharmaceuticals and advanced therapeutics to the market globally. Astrea supplies chromatography resins, adsorbents and columns as well as nanofiber-based purification technologies for biomanufacturing. Astrea has over 150 employees worldwide with production sites in Cambridge, UK, Isle of Man, Boston, USA, and Joliette, Canada.

Strategically, the acquisition extends Biotage’s chromatography franchise into the higher-growth and larger bioprocessing segment, while also increasing exposure to biologics and advanced therapeutic customers. Importantly, Astrea strengthens Biotage’s financial profile through its attractive organic growth rate, higher gross margins and significant exposure to recurring consumables-based revenues. In addition, the acquisition brings a rich, near-term pipeline of new product launches across chromatography resins, nanofiber-based membranes and columns.

For more information, read the announcement.