Boehringer Ingelheim joins forces with Belgian biotech company GST which develops and produces state-of-the art stem cell products for horses and pets
The acquisition follows two years of successful partnership that brought the first-ever registered stem cell-based veterinary medicine to the European market
Decision to acquire GST is fully aligned with part of Boehringer Ingelheim’s Animal Health strategy, aiming to strengthen its portfolio capabilities to accelerate innovation and growth
INGELHEIM, Germany -- (BUSINESS WIRE) --
Boehringer Ingelheim, a market leader in animal health, has acquired Global Stem cell Technology (GST), a Belgian veterinary biotech company. GST is dedicated to the research, development and production of evidence-based, regenerative medicines (stem cell therapies) used to treat orthopedic and metabolic diseases in animals. Boehringer Ingelheim already entered into a partnership with GST in 2018; in 2019, the companies launched Arti-Cell® Forte in Europe.
Arti-Cell® Forte is testimony to the innovation strength that lies within both companies. It is the first-ever stem cell product in the veterinary world granted marketing authorization by the European Commission. The acquisition and integration of GST will accelerate the development pipeline of Boehringer Ingelheim while maintaining its focus on setting new standards of care for animals.
“Collaboration with external partners plays an essential role in helping us expand our portfolio. After two years of a very successful partnership, we have decided to acquire GST. We are convinced that its expertise in the field of state-of-the art stem cell products will help us bring even more innovative solutions to our customers,” shares Jean-Luc Michel, Head of Global Strategic Marketing, Boehringer Ingelheim Animal Health.
“Boehringer Ingelheim wants to lead a new wave of innovation in the veterinary field. This ambition is a natural fit with GST’s management, staff and vision. From the very beginning we aimed to change the veterinary field, a role we will continue to play as a new R&D division within Boehringer Ingelheim,” says Jan Spaas, CEO of GST.
“This decision is fully aligned with our recently refocused strategic direction. Stem cell research areas and regenerative medicine offer an exciting potential for the next wave of innovation we are actively pursuing. In addition, strengthening external partnerships to accelerate our innovative efforts and growth is one of the key elements of our strategy,” adds Eric Haaksma, Head of Global Innovation at Boehringer Ingelheim Animal Health.
The companies did not disclose the financial terms of the deal.
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http://www.boehringer-ingelheim.com/press-release/boehringer-ingelheim-acquires-global-stem-cell-technology
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