Vibalogics
Vibalogics’ partnership with Ampersand began in May 2019, driven by an opportunity in the rapidly growing viral vector market, particularly in oncolytic viruses and viral vector vaccines. At the time, Vibalogics, a small CDMO solely based in Germany specializing in Phase I-II manufacturing, had a strong foundation but required strategic support and expansion to keep pace with the rising market demand.
With its expertise in biologics contract manufacturing and a keen interest in viral vectors, Ampersand recognized Vibalogics as an ideal investment to capitalize on the expanding virotherapy market.
Founded in 2002 as a German family-owned business focused on animal vaccines, Vibalogics shifted its focus to human bacterial and viral vector vaccines under the leadership of Managing Director Stefan Beyer. When Ampersand acquired the company, Vibalogics had a diverse and significant customer base; however, two of its three major clients were based in the United States. Dr. Beyer was determined to grow Vibalogics’ presence in the U.S., both to be closer to key customers and to expand the company’s capabilities into Phase III and commercial manufacturing. Ampersand’s investment provided the resources and strategic guidance necessary to realize these ambitions.
“I was approached by one of Ampersand’s partners. It was great, and it was clear that this was a firm with a great deal of knowledge in this industry. I had been aware of their previous investments into companies in the viral vector space and the success that they had, and that was very reassuring to hear.” –Stefan Beyer
Keys to Success
From the outset, Ampersand prioritized expanding Vibalogics’ footprint, particularly within the U.S. Leveraging its deep understanding of the market and expertise in building and operating commercial-scale facilities, Ampersand quickly implemented a strategic plan to establish Vibalogics as a major player in the U.S. The firm’s experience in recruiting top talent, managing expansions, and constructing facilities from the ground up allowed Vibalogics to scale rapidly. This expansion was a pivotal move, especially with two of Vibalogics’ largest customers being based in the U.S. and the virotherapy market becoming increasingly concentrated in the region.
Ampersand’s investment led to the doubling of Vibalogics’ workforce and facilitated the creation of a U.S.-based team to spearhead the company’s commercial manufacturing initiatives. The expansion culminated in developing a 110,000-square-foot, commercial-ready facility just outside Boston in Boxborough, Massachusetts. The new facility enabled Vibalogics to meet the growing demand for large-scale virotherapy manufacturing, from Phase III clinical trials to full-scale commercial production.
“Ampersand’s scientific expertise was decisive for Vibalogics’ owners and shareholders. They wanted to see Vibalogics in good hands, that the company could grow, that the jobs are not only safe, but that more jobs would be generated.” –Stefan Beyer
Ampersand’s influence extended well beyond financial support, playing a key role in reshaping Vibalogics’ business strategy. By steering the company toward high-growth sectors like oncolytic viruses and viral vector vaccines, Ampersand helped position Vibalogics for success in the expanding virotherapy market. In addition, Ampersand’s strategic guidance on optimizing operations, particularly at Vibalogics’ German facility, allowed the company to maximize its resources and enhance service to its European clients.
Ampersand also brought in an experienced global management team, recruiting a CEO, CFO, and CCO to provide the leadership needed to oversee international operations and sustain growth. Under their direction, Vibalogics launched a global commercial initiative, assembling a specialized sales team to target virotherapy customers across both Europe and the U.S. This initiative significantly boosted Vibalogics’ visibility, establishing the company as a leader in viral vector manufacturing.
“It was immediately clear how big Ampersand’s influence in the pharma and biotech sector already was. I felt that they were the right partner to take Vibalogics through to its next phase of growth.” –Stefan Beyer
Vibalogics experienced rapid and substantial growth following its partnership with Ampersand. Within the first year, the company achieved a major milestone by producing its first 200L viral vector manufacturing batches. A key driver of this expansion was Vibalogics’ engagement with major pharmaceutical companies, including Johnson & Johnson. Vibalogics was contracted to manufacture clinical trial materials for J&J’s COVID-19 vaccines, further cementing its reputation as a trusted partner in the biopharma sector.
To accommodate the rising demand for virotherapy products, Vibalogics expanded its European facility in Cuxhaven, Germany, adding 4,500 square feet of GMP-compliant manufacturing space. This expansion included the installation of 500L single-use bioreactors to support Phase II production, strengthening the company’s manufacturing capabilities and capacity.
By 2022, Vibalogics had emerged as a global leader in virotherapy manufacturing, drawing significant attention from industry players. Ampersand’s strategic guidance, combined with Vibalogics’ impressive operational achievements, made the company a highly attractive acquisition target. That year, Vibalogics was acquired by Recipharm, an integrated CDMO, providing it with the resources and global infrastructure needed to further scale its operations and meet the increasing demands of the virotherapy market.
“It was clear that our management team could take advantage of the breadth of experience within Ampersand’s team and its other portfolio companies: approaching clients, how to improve processes and make the company more efficient, and how to establish a footprint in the United States.” –Stefan Beyer
Ampersand’s approach to working with Vibalogics exemplified its founder-friendly philosophy. Throughout the partnership, Ampersand closely collaborated with Managing Director Dr. Beyer, supporting his vision for the company’s growth while providing the resources needed to bring that vision to life. Ampersand played a crucial role in managing expectations as Vibalogics expanded its U.S. operations, ensuring that its European operations continued to grow in tandem, thereby maintaining a balanced and cohesive global strategy.
The relationship between Vibalogics and Ampersand exemplifies Ampersand’s broader strategy of empowering entrepreneurs and founders by allowing them to retain operational control while offering the financial and strategic support needed to scale.
Ampersand’s investment transformed Vibalogics from a small, family-owned business into a global leader in virotherapy manufacturing. By refining the company’s strategy, expanding its U.S. operations, and strengthening its leadership team with key hires and operational expertise, Ampersand helped Vibalogics seize opportunities in the rapidly growing viral vector market. The company’s accelerated growth and eventual acquisition by Recipharm underscore the success of this partnership, positioning Vibalogics as a significant player in the future of the biopharma industry.
“Ampersand added value far beyond capital. They opened the US market entry for us and provided us with a very experienced network of individuals, but they also inspired us by giving ideas about how we could grow even faster. They helped keep us focused.” –Stefan Beyer
The statements provided herein are made by certain founders or executives of Ampersand’s past and/or current portfolio companies. Certain statements made herein are deemed “endorsements” and indicate approval, support, or a recommendation of Ampersand, or describe the individual’s experience with Ampersand. The individual has not been directly compensated for making these statements. However, a portfolio company in which the individual held a significant equity interest may have received financial investment from Ampersand through one or more funds managed by Ampersand. As such, the individual may have an indirect financial interest in the success of Ampersand’s activities or in presenting Ampersand in a favorable light. Additionally, the individual may be an Operating Partner or Executive Advisor with Ampersand. As an Operating Partner or Executive Advisor, the individual performs certain services for Ampersand and may be compensated for providing these services. These potential conflicts of interest should be considered by prospective investors when evaluating the individual’s endorsement.
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