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Ares Life Sciences to Acquire Antigen Laboratories, Inc., in the United States


April 15, 2013 - Geneva, Switzerland

Ares Life Sciences, a healthcare-focused investment group, announced today that it has signed a definitive agreement to acquire 100% of the share capital of Planet Biopharmaceuticals, Inc., including its wholly owned subsidiary Antigen Laboratories, Inc., a producer of allergen extracts, who works closely with the ENT (Ear, Nose and Throat) specialist community in the United States. Closing of the transaction is subject to certain closing conditions.

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."

The U.S. Allergy Business

It is estimated that 10% to 30% of the global population suffers from allergic rhinitis.(1) In the United States, more than 40 million Americans suffer from allergic diseases(2), approximately half of whom are allergic to grass pollen. The current standard of care in allergy immunotherapy involves multiple injections of allergens which are prepared from bulk extract material. These injections are performed in a supervised medical setting. Currently, approximately 2 to 3 million Americans in the U.S. are treated with subcutaneous immunotherapy annually.(3)

About Antigen Laboratories, Inc.

Antigen Laboratories was founded in 1968 and has been providing quality allergenic extracts and ancillary supplies to the allergy profession for decades. For more information, visit www.antigenlab.com.

About Ares Life Sciences

Ares Life Sciences is a healthcare-focused investment group, whose financial backer is the Bertarelli family. Its strategy is to focus on key life sciences sectors, mainly: pharmaceuticals and biotechnology, medical diagnostics, and medical technology. Ares Life Sciences has a long-term view on investments and a core element of its investment strategy is to make available to its portfolio companies the collective experience and network of its team in the healthcare sector. Ares Life Sciences' portfolio currently includes investments in Stallergenes, Euromedic, and Esaote.

References:

1. American Academy of Allergy Asthma and Immunology, http://www.aaaai.org/about-the-aaaai/newsroom/allergy-statistics.aspx. Accessed March 7, 2013

2. Something in the air: airborne allergens. Pamphlet from Literature and Periodicals Library provided by thefreelibrary.com URL: http://www.thefreelibrary.com/Something+in+the+air%3a+airborne+allergens-a015097319. Published March 1993. Accessed February 13, 2013.

3. Allergen Immunotherapy for Allergic rhinitis and Asthma. Cox L, Atwater S. Allergy Immunotherapy: a payer's perspective. Drug Benefits Trends. March 2008; (20 Supplement A, page 5)

Contacts:
Dynamics Group
Christophe Lamps
+41 22 308 62 22 or Mob: +41 79 476 26 87
cla@dynamicsgroup.ch

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