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ADMA Biologics closes Biotest asset acquisition

ADMA Biologics Inc. closed its acquisition of the assets of Biotest AG unit Biotest Pharmaceuticals Corp.'s therapy business unit.

The assets included in the transaction are two U.S. Food and Drug Administration licensed products, Nabi-HB and Bivigam, along with the manufacturing and testing operations of two Boca Raton, Fla.-based facilities.

ADMA Biologics also received $27.5 million in cash, with $15 million in the form of a subordinated loan from Biotest, and an additional $12.5 million commitment from Biotest to invest in future ADMA equity financings.

Following the completion of the deal, ADMA has assumed operational control of the assets and formally started the integration activities.