Date: 2011-06-01
Type of information: Company acquisition
Acquired company: Compound Focus, Inc (compound management business of BioFocus, a Galapagos Company - USA-Belgium)
Acquiring company: Evotec (Germany)
Amount: For the acquisition of all shares in Compound Focus Inc. Evotec will pay Galapagos an immediate cash upfront of €10.25M and an additional €2.25M in potential earn out payments upon performance of the business in 2012/2013 depending on revenues and certain corporate milestones.
Terms: Evotec has acquired Compound Focus, Inc., the compound management business of BioFocus, a Galapagos Company. This acquisition allows Evotec to augment its early drug discovery offering substantially, provides critical mass to its existing compound management offering, and adds profitable revenues. Compound Focus, Inc. is a leader in small molecule compound management services. The company\'s technologies are focused on automated storage and custom design solutions for small molecule drugs. The current key customer base includes US federal institutes and pharma companies such as Elan, Lundbeck, Sepracor or Procter & Gamble. In 2010, Compound Focus had revenues of €7.8M with an operating profit of €2.6M. Following this transaction, Evotec changes its revenue guidance for 2011 from €64-66 m to €68 -70 m, and Galapagos changes its revenue guidance for 2011 from €150 m to €146 m.
Details:
Related: Pharmaceutical development
