CO.DON continues business operations as a GmbH (restricted liability organization)
LEIPZIG and TELTOW, GERMANY, Jan. 25, 2023 /CNW/ — With result from 20.01.2023, CO.DON’s enterprise actions will be continued in the lawful kind of a GmbH (confined liability corporation) following a transferring reorganisation.
The asset offer with Rejuvenate GmbH, a business of the American-Chinese ReLive Group, concluded in October 2022 as a final result of a structured M&A course of action, has now been properly concluded by the fulfilment of the suspensive contractual conditions. Rejuvenate GmbH, which is now renamed into CO.DON GmbH, took in excess of the operative small business and the cooperation with small business partners and shoppers will proceed seamlessly. The previous CO.DON AG government board member, who has been main the business by the insolvency proceedings in self-administration, has been appointed running director of CO.DON GmbH. The remaining liquidation of CO.DON AG in the normal insolvency proceedings will be carried out by law firm Rüdiger Wienberg, who has now been appointed insolvency administrator by the insolvency court docket. The asset offer was skillfully accompanied by Dr. Wieselhuber & Spouse GmbH below the leadership of the distressed M&A group led by Jörg Balz.
Tilmann Bur, Handling Director of CO.DON GmbH: “Many thanks to the expert assistance of the administrator, Mr. Rüdiger Wienberg, law firm, and his staff led by Michael Döhner, lawyer, as very well as our advisors from Aderhold Rechtsanwaltsgesellschaft, led by Patrick Klawa, law firm, and Bianca Böttcher, lawyer, the structured M&A method has now been introduced to this favourable conclusion. As an crucial and integral part of the ReLive Group, there is a very clear eyesight for the potential of CO.DON GmbH. In addition to steady development in our present marketplaces, we are aiming for a strong world positioning in the field of regenerative therapies.”
Dr. Zhao, Founder and CEO of ReLive: „With the acquisition of CO.DON, we are increasing our foreseeable future-oriented enterprise in the field of regenerative medicine with the only EMA-accredited mobile remedy product for cartilage fix. With this transaction, we are continuing our R&D and business enhancement approaches to grow to be a worldwide chief in tissue engineering and regenerative medicine.”
Rüdiger Wienberg is delighted with the thriving restructuring resolution: “Right after continuing organization functions considering the fact that the summer time of 2022, it was attainable to implement a practical restructuring alternative underneath the most tricky financial ailments with each other with the self-administration established up in the greatest attainable way by the restructuring experts from Aderhold. This not only secures the company’s know-how and locations in Germany, but also will save over 90 % of the positions. This would not have been doable devoid of the trust of shoppers, staff and suppliers on the one particular hand and the aid of the Federal Ministry for Economic Affairs and Weather Motion as very well as the capable state authorities in Saxony and Brandenburg on the other – I would like to specific my honest many thanks to all of them,” says Wienberg. At the similar time, Wienberg is optimistic that “from an financial level of perspective, this prosperous restructuring will also lead to a extremely superior economic outcome for CO.DON AG’s lenders”.
CO.DON AG develops, creates and distributes autologous cell therapies for the minimally invasive repair of cartilage flaws. The products getting promoted is a cell treatment product or service for the minimally invasive therapy of cartilage injury in the knee joint that works by using only the patient’s very own cartilage cells (“autologous chondrocytes”). CO.DON’s method is at the moment utilised in above 200 clinics in Germany and much more than 18,000 people have previously been handled. In July 2017 CO.DON AG gained central EU internet marketing authorization for this item, followed by the marketing and advertising authorization for Switzerland in March 2019. At the Leipzig site, CO.DON has developed one particular of the premier services for the creation of human cells on an industrial scale for in-property and deal production. Handling Administrators: Tilmann Bur / Chen Li.
Further more info is offered from www.codon.de.
Get in touch with
Matthias Meißner
Director Company Communications
T: +49 ()341 99190 330
F: +49 ()341 99190 309
E: pr@codon.de
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