07:05 Thu 23 Jul 2020
Benchmark Hlgs PLC - Sale of vaccine manufacturing assets
("Benchmark" the "Company" or the "Group")
Sale of its vaccine manufacturing assets to Cell and Gene Therapy Catapult
CGT Catapult is a centre of excellence in innovation, with the core purpose of building a world-leading cell and gene therapy sector in the
Earlier this year Benchmark announced that it had initiated a review of its vaccine strategy, including manufacturing and R&D, to determine the best route to deliver a return from its investment in this business to date.
The Government's strategy to build infrastructure in the
The transaction is a significant milestone in Benchmark's strategy to reduce its cost base and focus on its core areas to achieve profitability. The proceeds from the Sale do not represent a profit to Benchmark, but are based on the facility's asset value and have been agreed to support the Government's vaccine strategy. The proceeds will further strengthen the Group's financial position and liquidity, with total potential consideration from recent disposals, including this Sale, of c.
"I am very pleased to announce this transaction which is another significant step forward in our strategy of becoming a streamlined, profitable business focused on our key areas of competency.
"Benchmark is also delighted that the timing and conclusion of our vaccine strategy review coincides with the need to scale capabilities to manufacture human vaccines in response to Covid-19 and that the talented team at Benchmark will become part of this critical effort."
"I am extremely pleased that Benchmark has been able to be part of the
"I am proud to say that Benchmark is exiting the Covid-19 lockdown period in a stronger financial position than we entered, due to our focus on completing our well developed restructuring programme."
"This commitment from the Government through the
"We are delighted to welcome the team from Benchmark to the Catapult family and be able to deploy the specialist capabilities of the Cell and Gene Therapy Catapult in such an important initiative. Accelerating the availability of Covid-19 vaccines, keeping skills and employment, and facilitating growth of the advanced medicines industry will make a valuable contribution to the recovery of the economy."
For further information, please contact: |
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Numis (Broker and NOMAD) |
Tel: 020 7260 1000 |
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Tel: 07551 170 451 / 07875 744 070 |
About Benchmark
Benchmark's mission is to enable aquaculture producers to improve their sustainability and profitability.
We bring together biology and technology, to develop innovative products which improve yield, quality and animal health and welfare for our customers. We do this by improving the genetic make-up, health and nutrition of their stock - from broodstock and hatchery through to nursery and grow out.
Benchmark has a broad portfolio of products and solutions, including salmon eggs, live feed (Artemia), diets and probiotics and sea lice treatments. Find out more at www.benchmarkplc.com
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