Freshfields advises Indivumed on the sale of its CRO services business to Crown Bioscience
Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Indivumed GmbH on the sale of its "IndivuServ" business unit to a wholly owned subsidiary of JSR Life Science, Crown Bioscience, Inc. Indivumed GmbH, a global industry leader in the provision and analysis of clinical biospecimen material, is thus disposing of its service division. The closing of the purchase agreement is subject to customary closing conditions and is expected to occur in April 2023.
Two separate Indivumed companies will emerge from the transaction: Indivumed Services GmbH, which will continue the "IndivuServ" business unit under the management of Crown Bioscience, and Indivumed Therapeutics GmbH.
The "IndivuServ" business unit includes, among other things, a unique biobank with nearly one million biospecimens and the associated clinical data, as well as access to a clinical network of more than 60 oncology departments in the USA, Europe and Asia.
The current business unit "IndivuType", which comprises Indivumed's bioinformatics and data analytics for the accelerated development of new cancer therapies, will continue to operate under the name Indivumed Therapeutics GmbH. Indivumed will thus focus primarily on the identification and validation of new targets and biomarkers in order to develop individualised cancer therapies.
As part of the transaction, Indivumed and Crown Bioscience will enter into a long-term strategic partnership, which will include access to samples and the provision of research services.
The Freshfields team is led by partner Natascha Doll and comprises partners Christoph H. Seibt (both Global Transactions, Hamburg), David Beutel (Tax, Munich), Boris Dzida (Employment, Hamburg), Joe Soltis (Tax, New York), principal associates Carsten Bork, Till Burmeister and Philipp Lehmann (all Global Transactions, Hamburg) and associates Panagiota Kavvada, Aleksandar Atanasov (both Global Transactions, Hamburg) and Moritz Lehmann (Tax, Munich).