Project to combine Stallergenes and Greer Labs

French allergy immunotherapy biotech firm Stallergenes (Euronext Paris: GENP) says it has received a proposal from its majority shareholder, Ares Life Sciences, which seeks to bring together the activities of Stallergenes and the US company Greer Laboratories in order to form the global leader in allergy immunotherapy.

The new group would benefit from the significant complementary strengths of Stallergenes and Greer, which is 100% owned by Ares, notably in the fields of product development, production, regulatory expertise and commercial practices. Stallergenes and Greer already have an exclusive agreement for the US commercialization rights to Oralair, a grass allergy immunotherapy tablet that launched in the USA last year (The Pharma Letter May 6, 2014)

Recognizing the strategic interest of this project, which would strengthen the development potential of the business, allow the geographic risk to be spread due to the high concentration of Stallergenes’ sales in Europe and capture the as yet untapped growth of the US allergy immunotherapy market, Stallergenes’ board of directors has requested the Independent Directors Committee to review the proposal in the interest of all shareholders.