Crucell sells Rhein Biotech to Dynavax
Netherlands-based biotechnology group Crucell says it plans to sell its biopharmaceutical and vaccine manufacturing business, Rhein Biotech GmbH, in an all-cash transaction of around 10.0 million euros ($12.0 million) to USA company Dynavax Technologies.
Rhein Biotech GmbH is a part Rhein Biotech NV, a company 93% owned by Swiss firm Berna Biotech, which Crucell recently acquired for 591.0 million Swiss francs ($451.1 million; Marketletters passim). Crucell says that the divestment is an important step towards aligning its portfolio of activities with its strategic priorities.
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