Switzerland's Debio sets up Canadian firm

7 June 2001

Swiss pharmaceutical group Debio has entered into an agreement withMontreal, Canada-based SGF Sante to create a new development company, H3 Biode. The firms said that H3 "will have an important role in the development of a network of research in innovative therapeutic formulations."

The new company is valued at C$50 million ($32.6 million), comprising C$30 million in liquid assets, and Debio will invest up to C$5 million into the project. The Lausanne-based firm's president, Rolland-Yves Mauvernay, said that establishing H3 in Montreal "is a natural step for the development of the Debio group in North America," as it gives his company the opportunity "to take advantage of Quebec's pool of research scientists and dynamic biopharmaceutical sector."

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