Biotec Pharmacon sells Immunocorp Consumer Health to focus on biopharmaceuticals
Biotec Pharmacon, a Norwegian developer of pharmaceutical product candidates for the treatment of immune-related diseases, is to sell its subsidiaries Immunocorp Consumer Health and Immunocorp Inc to Norwegian food supplements company Sana Pharma for NOK31.5m (
Biotec Pharmacon, a Norwegian developer of pharmaceutical product candidates for the treatment of immune-related diseases, is to sell its subsidiaries Immunocorp Consumer Health and Immunocorp Inc to Norwegian food supplements company Sana Pharma for NOK31.5m (£3.4m; Euro 3.8m).
Immunocorp Consumer Health is part of Biotec Pharmacon's non-pharmaceutical business. It markets immune modulating products for food supplements and skincare. Its leading brand is NBG 24/7TM. Immunocorp Inc is based in California and markets non-pharmaceutical products in the US. The two companies employ 15 people and reported sales of NOK22m (£2.4m; â"šÂ¬2.7m) for the first nine months of 2009.
The sale includes the transfer of shares and IP rights, trade names and domains for use within consumer health (food supplements, cosmetics and functional food). In addition, the parties have signed a five-year supply agreement, where Biotec Pharmacon, from its manufacturing plant in Tromso, Norway, will source immune stimulating beta glucan (NBG) to Sana Pharma for use within consumer health.
Biotec Pharmacon also has a growing business within marine biochemicals for research and diagnostic use.
"We believe this represents a good deal for everyone concerned," said Lars Viksmoen, ceo of Biotec Pharmacon. "For Immunocorp Consumer Health Sana Pharma, a new owner with strong interests in further investments within the consumer health and skin care sectors, represents new opportunities for continued growth. For Biotec Pharmacon the sale provides funding for continued development of our core businesses."
