CO.DON finally saved – investor has taken over the business operations of the Leipzig-based biopharmacy company with an additional location in Teltow, Brandenburg.

CO.DON carries on business enterprise operations as a GmbH (restricted legal responsibility organization)

LEIPZIG and TELTOW, GERMANY, Jan. 25, 2023 /PRNewswire/ — With influence from 20.01.2023, CO.DON’s organization routines will be continued in the lawful variety of a GmbH (limited liability firm) adhering to a transferring reorganisation.

The asset deal with Rejuvenate GmbH, a organization of the American-Chinese ReLive Group, concluded in October 2022 as a consequence of a structured M&A approach, has now been efficiently concluded through the fulfilment of the suspensive contractual situations. Rejuvenate GmbH, which is now renamed into CO.DON GmbH, took around the operative company and the cooperation with business enterprise partners and consumers will continue on seamlessly. The former CO.DON AG government board member, who has been foremost the enterprise by the insolvency proceedings in self-administration, has been appointed taking care of director of CO.DON GmbH. The remaining liquidation of CO.DON AG in the frequent insolvency proceedings will be carried out by attorney Rüdiger Wienberg, who has now been appointed insolvency administrator by the insolvency court docket. The asset offer was professionally accompanied by Dr. Wieselhuber & Associate GmbH beneath the management of the distressed M&A crew led by Jörg Balz.

Tilmann Bur, Controlling Director of CO.DON GmbH: “Many thanks to the skilled assist of the administrator, Mr. Rüdiger Wienberg, lawyer, and his staff led by Michael Döhner, lawyer, as well as our advisors from Aderhold Rechtsanwaltsgesellschaft, led by Patrick Klawa, lawyer, and Bianca Böttcher, law firm, the structured M&A process has now been brought to this favourable summary. As an critical and integral part of the ReLive Team, there is a very clear vision for the long term of CO.DON GmbH. In addition to stable growth in our existing marketplaces, we are aiming for a powerful worldwide positioning in the field of regenerative therapies.”

Dr. Zhao, Founder and CEO of ReLive: „With the acquisition of CO.DON, we are expanding our long run-oriented business enterprise in the discipline of regenerative medicine with the only EMA-accredited mobile therapy product or service for cartilage repair. With this transaction, we are continuing our R&D and business progress approaches to develop into a worldwide leader in tissue engineering and regenerative drugs.”

Rüdiger Wienberg is delighted with the productive restructuring solution: “Immediately after continuing enterprise operations considering that the summer months of 2022, it was doable to employ a feasible restructuring solution beneath the most difficult financial circumstances collectively with the self-administration established up in the best possible way by the restructuring specialists from Aderhold. This not only secures the company’s know-how and spots in Germany, but also will save more than 90 % of the work opportunities. This would not have been achievable devoid of the have confidence in of shoppers, staff members and suppliers on the just one hand and the assist of the Federal Ministry for Financial Affairs and Local weather Action as perfectly as the competent condition authorities in Saxony and Brandenburg on the other – I would like to convey my sincere many thanks to all of them,” states Wienberg. At the very same time, Wienberg is optimistic that “from an financial place of check out, this profitable restructuring will also guide to a really good financial result for CO.DON AG’s collectors”.

CO.DON AG develops, makes and distributes autologous cell therapies for the minimally invasive repair service of cartilage defects. The products becoming promoted is a cell treatment products for the minimally invasive treatment of cartilage injury in the knee joint that takes advantage of only the patient’s own cartilage cells (“autologous chondrocytes”). CO.DON’s technique is at this time made use of in above 200 clinics in Germany and much more than 18,000 people have currently been taken care of. In July 2017 CO.DON AG received central EU promoting authorization for this product or service, adopted by the advertising authorization for Switzerland in March 2019. At the Leipzig web page, CO.DON has designed 1 of the largest amenities for the output of human cells on an industrial scale for in-dwelling and deal manufacturing. Managing Administrators: Tilmann Bur / Chen Li.

More information and facts is offered from www.codon.de.

Make contact with

Matthias Meißner
Director Company Communications
T: +49 ()341 99190 330
F: +49 ()341 99190 309
E: pr@codon.de

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See initial information:https://www.prnewswire.com/information-releases/codon-at last-saved—trader-has-taken-around-the-company-functions-of-the-leipzig-dependent-biopharmacy-enterprise-with-an-additional-locale-in-teltow-brandenburg-301730658.html

Source CO.DON GmbH