Brocair advises Groupe Novasep on its divestiture of TangenX

NEW YORK, NY – February 13, 2017 – Brocair Partners LLC, an investment banking firm serving the healthcare industry, advised Groupe Novasep SAS, which provides manufacturing solutions for life sciences molecules and fine chemicals, on its divestiture of TangenX Technology Corporation to Repligen Corporation for €37 million.

TangenX Technology Corporation, based in Shrewsbury, MA, produces the single-use Sius™ line of tangential flow filtration (“TFF”) cassettes and hardware used in downstream biopharmaceutical manufacturing processes. Single-use Sius TFF cassettes are used in the filtration of biological drugs and are designed to deliver superior performance to traditional (reusable) TFF cassettes in a cost-competitive format that provides user-ready convenience and flexibility.

Repligen, a NASDAQ-listed life sciences company focused on bioprocessing technology, stated that the acquisition strengthened its position as a leader in single-use bioprocessing technologies and extended its reach into downstream processes, where disposables are increasingly being adopted by biopharmaceutical manufacturers for the convenience, flexibility and cost advantages that they offer.

Gregg Blake, Managing Partner of Brocair, explained, “The process was kept on a tight timeline, and there was substantial strategic interest in TangenX’s technology. In the end the valuation exceeded the sellers’ expectations and was a great endorsement of the past several years of work of the entire management teams at Novasep and TangenX.”

Jean Bléhaut, who led the divestment project for Novasep, said: “I am delighted with the contribution of Brocair Partners to this project. They were able to efficiently jump into a fast track project and were instrumental in entertaining excellent communication between the different stakeholders, which is an essential ingredient in a successful deal recipe.”