Communications around acquisition by Bayer Healthcare

DIREVO Biotech AG based in Cologne, Germany develops bioengineered products and processes for the industrial and pharmaceutical markets by enhancing nature’s potential. The Company focuses on the discovery and development of therapeutic antibodies and proteases using protein engineering. DIREVO’s wholly owned subsidiary, DIREVO Industrial Biotechnology GmbH, is an industrial biotechnology business focused on the food and feed biorefineries markets.

In September of 2008, DIREVO Biotech AG was acquired by Bayer Healthcare in an all cash deal at a transaction value of €210 Million (approx. $300 Million). Bayer Healthcare integrated DIREVO Biotech’s research and development (R&D) personnel into Bayer Schering Pharma’s global drug discovery organization, with DIREVO’s headquarters in Cologne becoming a center of expertise for biologicals alongside the global R&D centers in Germany (Berlin and Wuppertal) and the USA (Berkeley). At the same time DIREVO Industrial Biotechnology GmbH, a wholly owned subsidiary of DIREVO Biotech AG, was not subject to this transaction and was sold in a separate deal to a group of financial investors. College Hill was asked to develop a media campaign aimed at raising awareness and understanding of the acquisition and of the new company’s future plans under the agreement.

Objectives

• Ensure a positive outlook and understanding of DIREVO’s integration into Bayer Schering Pharma and the Company’s approach to future endeavours in biotech
• Differentiate the industrial division of DIREVO to be spun out and ensure that it was not overlooked in coverage of the Bayer deal
• Attract potential investors for future fundraising of new company, DIREVO Industrial Biotechnology GmbH

Our Approach

• Two press releases, one announcing the acquisition of DIREVO AG by Bayer and one announcing the sale of DIREVO Industrial Biotechnology GmbH to a consortium of investors
• Carefully researched and orchestrated media outreach programme
• Scheduled a full day programme of media interviews with the CEO of DIREVO AG

Results

• Extensive coverage of the acquisition and the spin off throughout the global life science and financial media with around 50 publications picking up on the story, including Financial Times Deutschland, Dow Jones Newswires, Reuters, Bloomberg, The Wall Street Journal, Süddeutsche Zeitung, Handelsblatt, Frankfurter Allgemeine Zeitung, BioCentury, Scrip, Bioworld Interntional and transkript

College Hill is currently extending the capability of the customer portal and developing a German language version of the website.

Client Endorsement

Dr. von Rüden of DIREVO said: “We were very pleased with the outreach of the news and the recognition it received.”

September 2008

To discuss our capability in this area please contact:
Dr Douglas Pretsell, Associate Partner
+49 (0)89 57 00 18 06
douglas.pretsell[at]collegehill.com

© 2012 College Hill | Registered in England & Wales No 1036926 / VAT No 245666930 | Legal

other clients