Argos Wityu announces the sale of Cisbio Bioassays to Abénex

Argos Wityu announces the sale of Cisbio Bioassays to Abénex

CISBIO BIOASSAYS SALE – SECOND EXIT FOR FUND VI green_squares


Paris and Codolet, 15 June 2016

Logo Cisbio

Argos Wityu announces the sale of Cisbio Bioassays to Abénex, which will partner with the French biotech company in a new stage of business growth. 

Cisbio Bioassays is a leading biotechnology company providing solutions to the pharmaceutical research and in vitro diagnostics markets. Cisbio Bioassays has a long history, originating as part of the CEA (French Atomic Energy Commission), Cisbio Bioassays was later controlled by Schering (Bayer), then by the Belgian group IBA, and became totally independent and autonomous during the spin-off transaction led by Argos Wityu in 2013. The company’s transformation orchestrated by Argos Wityu, has helped strengthen sales, marketing and R&D through the recruitment of nearly 65 people, among the 210 staff members within the company today.

Already well established in the US and China, Cisbio Bioassays further reinforced its international presence by establishing a Japanese subsidiary and by structuring its distributors’ network. This commercial presence enables the company to achieve over 85% of its turnover outside of France. Cisbio Bioassays significantly invests in innovation by employing nearly 40 people and dedicating more than 10% of its revenue for research and development.  Cisbio Bioassays has also made significant investments in information systems and its organization.

The sale of Cisbio Bioassays to Abénex comes after a successful transformation process. The company is currently looking for new industrial partnerships to foster growth, notably through acquisitions.

« Abénex acquires Cisbio Bioassays with the support of our company’s management team and employee representatives » says Berthold BALDUS, President of Cisbio Bioassays, « Argos Wityu has been an essential partner through our transition as an independent French biotech company. We are confident that Abénex will continue this value creation by supporting and accompanying our strategy ».

« In recent years, Cisbio has become an independent and innovative French biotech company globally recognized for its products and services. We are proud to have supported the teams in this crucial phase of autonomy and in a strategy that focuses on innovation and growth », stated Gilles LORANG, Argos Wityu

« We are delighted to partner with the teams of Cisbio Bioassays in the roll-out of their strategy. Relying on its global leadership within its two markets, Cisbio Bioassays aims at conquering new positions in pharmaceutical research solutions. Abénex will support its organic and external growth projects in this sector as well as in in vitro diagnostics. Indeed, we historically helped our portfolio companies to perform more than 110 acquisitions. We are pleased to celebrate Abénex’ 60th investment in France with the acquisition of Cisbio Bioassays. It will be performed by Abénex V, the new fund we raised in 2015 » added Antoine SCHOUMAN, Abénex.

About Argos Wityu (www.argos-soditic.com)

Created in 1989, Argos Wityu is an independent European Private Equity firm with offices in Brussels, Frankfurt, Geneva, Milan and Paris. Argos Wityu focuses on management buy-outs, buy-ins, spin-offs, in small and medium sized companies. The funds managed by Argos Wityu typically take majority stakes ranging from €15m to €100m.

Since its creation, Argos Wityu has operated 6 funds and carried out more than 60 transactions focused on transformation and growth in the acquired companies, ahead of financial leverage. The firm has in particular developed a track record of unusual, complex and off-market transactions. The latest fund Euroknights VI (€400m) raised in 2011 has completed 13 investments to date and committed more than 80% of the fund’s available capital.

About Cisbio Bioassays (www.cisbio.com)

Cisbio Bioassays develops and markets products and technologies used for in vitro diagnostics and drug discovery. With its proprietary technology, HTRF®, the company is a leader in homogeneous fluorescence detection methods, and offers first class assays and services for drug discovery researchers. In addition, Cisbio Bioassays provides a broad range of immunoassays for in vitro diagnostics, mainly tailored for cancerous pathologies, as well as metabolic and auto-immune diseases.

Based in Codolet, France, Cisbio Bioassays owns facilities in Bedford (MA, U.S.A.), Shanghai (China), and Tokyo (Japan), and also markets its global offer through a network of distributors.

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