(Bloomberg) -- Fresenius SE & Co. is in advanced talks to acquire a majority stake in Spanish biotech firm mAbxience as the German health-care provider seeks to expand its oncology and hematology treatments, according to people familiar with the matter.

Fresenius is considering paying about 400 million euros ($454 million) for a controlling stake in the Madrid-based company, the people said, asking not to be identified because the matter is private. Fresenius and mAbxience, a unit of closely-held drugmaker Insud Pharma, are hammering out final terms of a deal that could be announced as soon as in the next few weeks, the people said.

Bad Homburg, Germany-based Fresenius has emerged as the likeliest buyer for a stake in mAbxience after outbidding rivals including private equity firms, the people said. Talks are still ongoing and no final decision has been made, the people said. 

A representative for Fresenius declined to comment, while a representative for mAbxience owner Insud Pharma couldn’t immediately respond to a request for comment.

A deal would help bolster the portfolio of treatments at Fresenius Kabi, the German health-care group’s pharmaceutical unit specializing in medicines and technologies for infusion, transfusion and clinical nutrition for critically and chronically ill patients. 

Fresenius, which is scheduled to report full-year earnings on Tuesday, provides health-care services through its various subsidiaries. Fresenius Medical Care AG provides treatments for people with chronic kidney failure, while Fresenius Helios is the largest private hospital operator in Europe, according to the group’s website.

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