IBA Signs Term Sheet for the Disposal of Cisbio Bioassays SAS

IBA Signs Term Sheet for the Disposal of Cisbio Bioassays SAS

Term sheet signed with European private equity firm valuing Cisbio Bioassays at approximately EUR 25 million

Louvain-la-Neuve, Belgium, May 14, 2013 - IBA (Ion Beam Applications S.A., EURONEXT), the world's leading provider of proton therapy solutions for the treatment of cancer, today announces the signature of a term sheet for the sale of its Business Unit Cisbio Bioassays SAS.

Following IBA's decision to refocus on its core businesses in radiation therapy (proton therapy, dosimetry) and accelerators for radiopharmaceuticals and industrial applications, IBA made the decision to dispose of its Bioassays division. IBA's Board held on May 8, 2013 has approved the signature of a term sheet with a European private equity firm. The projected value of the transaction is approximately EUR 25 million, a price close to the current book value of the Bioassays net assets in IBA's consolidated Financial Statement for 2012.  

As per the term sheet, the Bioassays business will be sold to a new company in which IBA would keep a minority stake of approximately 15%.  Financing will be secured by the seller through a vendor note for an amount of EUR 7.5 million, the closing of the transaction is therefore not subject to bank financing.

The current term sheet is non-binding and grants to the potential investor a period of exclusivity for the conduct of an extensive due diligence of the business.

Parties expect to close the transaction this summer.

About Cisbio Bioassays SAS  
Cisbio Bioassays, member of IBA group, is a global developer of products, technologies and services used in assay development and drug screening. The company pioneered the field of homogenous fluorescence methodologies via its proprietary technology, HTRF®.  In addition, the company develops in vitro diagnostics and produces a selection of biological reagents and methods used by pharmaceutical and biotechnology companies and contract research organizations (CROs).  More information about Cisbio Bioassays on www.cisbio.com.
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About IBA 
IBA (Ion Beam Applications S.A.), is a cancer diagnostics and treatment company and the worldwide technology leader in the field of proton therapy. The Company's expertise lies in the development of next generation proton therapy technologies and radiopharmaceuticals that provide oncology care providers with premium quality services and equipment, including IBA's leading fully integrated IntegraLab^® radiopharmacy system, and Dosimetry advanced solutions for Quality Assurance of medical equipment and increased patient safety.

Headquartered in Belgium and employing more than 1,200 people worldwide, IBA currently has installed systems across Europe and the US and is expanding into emerging markets.  The Company is focused on building sustainable global growth for investors, providing solutions in the fight against cancer.

IBA is listed on the pan-European stock exchange EURONEXT. (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB) and more information can be found at: www.iba-worldwide.com

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