Ares recently signed an agreement to acquire Greer Laboratories, Inc. a leader in U.S. allergy immunotherapy (AIT) market. The acquisition of Antigen Laboratories is a continuation of Ares' strategic focus on the U.S. AIT market. It is also the majority shareholder of the French based Stallergenes S.A., a pioneer and leader in immunotherapy treatments by sublingual administration. Ares believes there is significant growth potential in the AIT business globally, particularly in the US which currently only represents 10% of the European market and is expected to grow significantly over the next few years.
Jacques Theurillat, CEO of Ares Life Sciences, commented: "As an FDA licensed manufacturer, Antigen has one of the most comprehensive offerings of allergenic extracts in the United States and has a long track record of serving the needs for the ENT specialists. We view the acquisition of Antigen as very complementary to our other investments in the allergy market."
Theron E. Odlaug, Planet Biopharmaceuticals Executive Chairman and CEO, commented, "We are looking forward to becoming a member of the Ares portfolio of life science companies and the resources they will provide to help us continue to grow."