German injectable medicines specialist Fresenius Kabi announced two acquisitions to bolster its position in biosimilars and medical technology sectors.

The company purchased a 55% stake in biopharmaceutical firm mAbxience, strengthening its presence in the biopharmaceuticals market.

mAbxience was established in 2010 by Dr Hugo Sigman and Dr Silvia Gold as the biotechnology division of Insud Pharma. The firm currently has about 600 people and generated sales of about €255m last year.

The acquisition amount will be a combination of €495m upfront payment and milestone payments.

It will provide the company access to mAbxience’s expertise and capabilities to create a strong partnership for more growth potential in the biosimilars market.

Also, Fresenius Kabi has agreed to acquire the specialised infusion therapy company Ivenix. The purchase price will be a combination of $240m upfront payment and milestone payments.

Based in Massachusetts, US, Ivenix has developed the advanced infusion system including a large volume pump with administration sets, infusion management software tools, applications and analytics to inform care and advance efficiency.

The deal will allow the firm to provide a next-generation infusion therapy platform for the US market and it aligns with the company’s “Expand MedTech” of Vision 2026.

Through the deal, Kabi will now have capabilities in hospital connectivity and will generate new options for the growth of the MedTech business.

Both transactions are expected to close by mid-2022, subject to regulatory approvals and other customary closing conditions.

Fresenius Kabi CEO Michael Sen said: “Expanding our MedTech business and broadening our presence in Biopharmaceuticals are key to our Vision 2026 programme. Today’s announcements fit squarely into our plans.

“With the acquisition of Ivenix, we add the next-generation infusion therapy platform; we complement and strengthen our existing infusion therapy offering and we create a superior portfolio for the US market.

“With mAbxience, we are making a step-change in our biopharmaceuticals profile. This is a highly complementary transaction in terms of biologics pipeline, manufacturing capabilities and business model.

“mAbxience is two businesses in one company. mAbxience and Ivenix as portfolio advancements are good for patients, good for healthcare providers and our company.”