Keensight’s Biovian, 3P Biopharmaceuticals merge to form pan-European biologics CDMO

3PBIOVIAN is a pan-European biologics contract development and manufacturing organisation.

  • ERES IV, advised by Elyan Partners, and Sodena, to remain minority shareholders
  • Dámaso Molero Sánchez, former 3P CEO, will serve as group CEO
  • Keensight is a European growth buyout firm

Biovian and 3P Biopharmaceuticals, backed by their common shareholder Keensight Capital, have joined to create 3PBiovian, a pan-European biologics contract development and manufacturing organisation (CDMO).

ERES IV, advised by Elyan Partners, and Sodena, will continue as minority shareholders alongside Keensight, maintaining their investment in the group.

3PBiovian will provide end-to-end development and manufacturing services for all protein expression systems and viral vectors, both for drug substance and drug product, from preclinical to clinical development and commercial phases. The group will have gross sales of above €75 million and will leverage its manufacturing sites in Pamplona-Noáin, Spain and Turku, Finland and its commercial office in Boston, Massachusetts to address customer needs.

“The companies’ operational complementarity and strategic alignment will perfectly address the ever-complexifying demand for protein expression systems globally,” said Pierre Remy, managing partner at Keensight.

Dámaso Molero Sánchez, former 3P CEO, will serve as group CEO supported by deputy CEO Antti Nieminen, former Biovian CEO, Heidi Suuronen as CFO and Elena Erroba as chief commercial officer.

Keensight invested in Biovian and 3P in 2018 and 2019, respectively.

Biovian and 3P are two biologics CDMOs based in Turku, Finland and Navarra, Spain, respectively. Both have delivered consistent double-digit growth, according to a release.

Paris-based Keensight is a European growth buyout firm that invests in companies with revenues in the range of €10 million to €400 million.