UroTec GmbH, a Dresden, Germany-based biotechnology company that produces tissue replacement from the patient’s own cells to reconstruct diseased urinary organs, has been acquired by APOGEPHA Arzneimittel GmbH, a pharmaceutical company that produces urology drugs.
APOGEPHA has, as strategic investor, purchased a majority stake in UroTec , acquiring the shares from previous shareholders Sächsische Aufbaubank (Saxony Development Bank), High-Tech Gründerfonds (HTGF) and Technologiegründerfonds Sachsen (TGFS).
Commenting on the transaction, Sören Liebig, Urotec’s managing director and founding shareholder, said: “With APOGEPHA’s participation we intend to expand UroTec’s globally leading role in the development and application of regenerative therapies in the field of urology”.
The focus currently is on obtaining European drug approval for UroTec’s first product, “MukoCell”, and marketing it internationally.
APOGEPHA is Dresden-based pharmaceutical company that specializes in the development, production and marketing of urology medications. It offers a wide range of products for treating urological diseases.
With is principal product of Propiverin, an in-house development for treating urinary incontinence, the company has international representation in 20 countries where marketing is handled by partners.
In 2009, the company had 168 employees and generated revenues of €39m.