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Mergers and Acquisitions

Date: 2011-01-25

Type of information: Company acquisition

Acquired company: Santhera Pharmaceuticals (Switzerland)

Acquiring company: Newron Pharmaceuticals (Italy)

Amount:

Terms:

The purchase price consists of a cash consideration of € 3m and 2.597.400 shares from authorised capital. In addition an earn-out component of up to € 4m in cash will become due if certain performance-based milestones are reached. Parts of the shares are held in escrow and their release is subject to certain company events and representations. All shares issued are subject to certain lock-up provisions. The deal is expected to close in April 2011.
Despite cash requirements for transaction and integration costs of approx. € 4m resulting from the acquisition, Evotec confirms to keep a very strong strategic cash balance also in 2011. For the current fiscal year, the Company expects to grow revenues by more than 15% and to end the year 2011 with a liquidity of more than € 64 m.

* On February 2, 2011, Santhera Pharmaceuticals announced that it discontinues the dialogue with Newron Pharmaceuticals S.p.A. 

Details:

Santhera is constantly evaluating its strategic options. As part of such process the company has had a high level dialogue with Newron Pharmaceuticals S.p.A. The continuation, content and outcome of such dialogue cannot be predicted. No further comments will be made.

Related:

Is general: Yes