Brazilian biotech company Regenera Stem Cells is in talks with three animal health companies for the sale of its control, two people with knowledge of the matter said on Thursday.
Renegera has hired financial adviser BM Partners to manage the sale process. Three companies have delivered non-binding proposals, the sources added, asking for anonymity to disclose private talks.
The Brazilian company, which specializes in stem cell therapy for animals, has registered patents in the United States and Australia and is waiting for approval of patents related to its treatment in the EU and Brazil.
Regenera has received approval from Brazilian healthcare regulator Anvisa to offer stem cell treatments for dogs and horses.
The company is owned by the scientists who developed the treatments, Michele Barros and Joao Flavio Panattoni Martins, as well as investors such as Henrique Loyola, former partner at XP Inc, and healthcare executives Claudio Lottenberg and Nelson Libbos.
Valuation will depend on expected growth over the next years, as some of the therapies, such as treatments for horses, have just been approved.
Boehringer Ingelheim acquired Belgian veterinary biotech company Global Stem cell Technology (GST), in a deal similar to what Regenera is seeking now.
Source: Reuters.com