GESSEL advises Stemlab on the acquisition of Bebecord
GESSEL provided legal support to Stemlab, a subsidiary of Polski Bank Komórek Macierzystych – the main entity in the international FamiCord group, in its purchase of a 65% stake in Bebecord – a Portuguese stem cell bank. Thus supplementing its previous 35% stake, Stemlab has become Bebecord’s sole shareholder. The acquisition was financed with a combination of cash and credit facilities.
Stemlab’s take-over of Bebecord marks an important step in implementation of its strategy for consolidation of the European stem cell banking market as well as strengthening PBKM’s presence in Portugal.
GESSEL supported Stemlab at all stages of the transaction, especially negotiation of the legal documentation.
Bebecord, active in Portugal, collects, processes and stores stem cells within a down payment system.
Polski Bank Komórek Macierzystych is the largest stem cell bank in Poland and the main entity within the international FamiCord group, which manages stem cell banks in a number of European Union countries and in Turkey. PBKM’s operations are focused on collection, processing, and long-term storage of stem cells from umbilical blood and similar tissue. The group also invests in advanced therapy medicinal products research. In May 2016, PBKM had its initial public offering on the Warsaw Stock Exchange.
Stemlab collects, processes, and stores stem cells and works on cell therapy technologies. It is active in Portugal, Spain and, through business partners, in Italy, accounting for some 7% of umbilical blood collection in Europe. As at late 2018, Stemlab stored approximately 98,000 umbilical blood and tissue samples and approximately 120,000 biological materials samples in total. The company also pursues advanced therapy medicinal products research, holding a number of patents in this field. Stemlab’s consolidated revenue for 2017 reached EUR 6.1 mln, making for cash EBITDA of EUR 1.5 mln.