The LFB Group created a new company under the MAbgène brand name to be controlled by LFB biotechnologies. It will host the industrial and commercial activities currently performed at MAbgène's manufacturing site in Alès, France and all MAbgène staff.
LFB Biotechnologies, a subsidiary of the LFB group, will acquire 41% of the stock capital and 51% of the voting rights in the new entity. LFB says that its long-term objective is to acquire all the shares in the newly formed company.
LFB will provide MAbgène with funds to develop its activities, build new operating facilities, and recruit additional personnel.