The multinational Grifols, a member of CataloniaBio & HealthTech, has announced the sale to Synthetic Biologics of its entire stake in the Catalan biotechnology company VCN Biosciences, a company specializing in research and development of new agents for the treatment of solid tumors. The sale was made for 75 million dollars, about 66.4 million euros.

Grífols became a shareholder in the company in 2012. The company has stated that its intention is to close the operation during the first quarter of 2022, once the necessary authorizations have been obtained from the Spanish authorities and the regulators. The sale of VCN Biosciences is part of Grífols’ strategy of divesting in non-strategic assets, in its long-term growth strategy.

The structure of the agreement includes an initial payment of 4.7 million dollars in cash, the assumption of VCN's liabilities for 2.4 million dollars and 70.3 million dollars in payments, conditional on the achievement of milestones linked to clinical development and the achievement of regulatory achievements over the next six years.

Photo: Raimon Grífols and Víctor Grífols Deu, CEOs of Grifols