Ypsomed AG, Burgdorf acquires 10 % equity stake in Bionime Corp.Bionime Corporation proudly announces a joint co-operation with Ypsomed AG, Switzerland.
Ypsomed is a worldwide leading independent developer and manufacturer of injection systems for custom-made self-administration and supplier of pen needles for the treatment of diabetes, growth disorders or infertility, as well as for further therapeutic areas. Ypsomed has well-established partnerships with numerous leading pharmaceutical and biotech companies such as Sanofi-Aventis, Eli Lilly, Pfizer, Roche, Genentech, Merck Serono, Amylin, NPS and others.
Ypsomed will strengthen the diabetes business with the distribution of blood glucose monitoring systems in Europe from spring 2009. The devices for the self-monitoring of blood glucose levels manufactured by Bionime will extend the existing diabetes product range offered by Ypsomed’s European subsidiaries.
Bionime’s chairman Roy Huang explains, why Bionime wants to partner with Ypsomed: “Ypsomed has a strong market presence in the diabetes business in Europe and direct customer access as well as a high level of expertise and a track record for many years.” The blood glucose monitoring systems manufactured by Bionime are based on patented and advanced technology, allow reliable and accurate measurements and provide an interesting cost structure.
Ypsomed’s CEO Richard Fritschi comments enthusiastically: „With the investment in Bionime, Ypsomed is emphasising the close partnership in the area of blood glucose monitoring systems in Europe on one hand; on the other hand, there are options for future collaboration with Bionime both as a production partner in Asia and as a platform for the distribution of Ypsomed pen needles in Asia and Eastern Europe.“
Ypsomed is headquartered in Burgdorf, Switzerland, and employs over 1200 employees at several production sites in Switzerland and throughout a European sales and distribution network. Ypsomed was created in 2003 when the Burgdorf-based Disetronic Group was split up. Willy Michel, the co-founder and major shareholder, sold Disetronic Holding AG and its Infusion Systems Division to Roche Holding in 2003. He retained the Injection Systems Division, which has traded since then as an independent company under the name Ypsomed.
Ypsomed will acquire a 10% equity stake in Bionime Inc., Taichung, for approximately CHF 6.5 million. |
