Date: 2014-05-28
Type of information:
Acquired company: Euprotec (UK)
Acquiring company: Evotec (Germany)
Amount: £2.15 million (€2.64 million)
Terms: * On May 28, 2014, Evotec announced the acquisition of all shares in Euprotec Ltd, a UK-based specialist contract research organisation. The purchase price consists of a cash consideration of £1.9 million and a deferred payment component of £1.25 millio, in cash. The deferred payment will be due following through two years after the acquisition and depends upon the business performance and achieving certain revenue targets. The deal is expected to close in H1 2014. Despite cash requirements for the transaction in 2014, Evotec confirms all prior financial objectives. For the current fiscal year, the Company expects high single-digit percentage growth in revenue excluding milestones, upfronts and licences, to spend approximately €10 m to €14 m in R&D and to end the year 2014 with a liquidity of more than €90 m.
Details: Euprotec, founded in 2008, is a leader in the provision of infectious disease and respiratory biology services. With a highly relevant and validated portfolio of assays and disease models, underpinned by internationally recognised expertise, the company supports each stage of client anti-infective drug discovery and development programs through to late stage preclinical investigation and clinical proof-of-concept studies. Euprotec\'s extensive collection of bacterial and fungal strains/clinical isolates underpins its comprehensive range of drug discovery services consisting of a full range of preclinical efficacy models of bacterial/fungal infection; PKPD profiling and modelling; susceptibility/MIC testing and in-depth characterisation of antimicrobial activity; mechanism of action determination and ADME/PK assays. Euprotec is based in Manchester (UK) operating out of state of the art laboratory facilities and currently employees 19 employees. The acquisition of Euprotec confirms Evotec\'s leading position as a fully integrated drug discovery and early development partner for Pharma and biotechnology companies. Integration of Euprotec\'s capabilities augments and complements Evotec\'s high-end drug discovery platform with anti-infective screening, early PKPD (Pharmacokinetic/Pharmacodynamic) profiling, an extensive range of disease and efficacy models for characterisation of anti-bacterials, anti-fungals and anti-virals, StrainBank, a collection of clinical isolates, and adds core disease biology know-how in infection. These skills further enhance Evotec\'s ability to deliver high-quality innovative solutions to its partners on a global scale.
Related: CRO Infectious diseases
