DGAP-News: Evotec acquires Cell Culture Service GmbH
(firmenpresse) - DGAP-News: Evotec AG / Key word(s): Mergers&Acquisitions
Evotec acquires Cell Culture Service GmbH
03.01.2013 / 07:29
---------------------------------------------------------------------
* STRENGTHENS CELL-BASED SCREENING AND REAGENT PLATFORM AT EVOTEC'S HAMBURG
SITE
* ADDS HIGH-MARGIN BUSINESS WITH AN EXPECTED REVENUE OF MORE THAN EUR1.0 M
IN 2013
* INITIAL PURCHASE PRICE OF APPROX EUR1.2 M IN CASH PLUS AN EARN-OUT
PAYMENT DEPENDENT ON BUSINESS PERFORMANCE
Hamburg, Germany - 03 January 2013: Evotec AG (Frankfurt Stock Exchange:
EVT, TecDAX) today announced the acquisition of all shares in Cell Culture
Service GmbH (CCS), a Hamburg-based company which supports the cell culture
needs of a world-wide customer base of biotech and Pharmaceutical
companies. CCS is one of the leading suppliers of custom cells and
cell-based reagents such as recombinant assay cell lines, assay-ready
Frozen Instant Cells, qualified membranes, and proteins for high throughput
screening with more than ten years experience in bulk cell production.
Strengthening Evotec's position as quality leader in drug discovery
solutions
The acquisition of CCS confirms Evotec's leading position as a fully
integrated drug discovery and early development partner for Pharma and
biotechnology companies. Integration of CCS' unique capabilities, such as
frozen cell preparations and bulk cell transfection for cell-based
screening will enable Evotec's partners to access the latest science and
the best-in-class technology infrastructure to increase efficiency in the
drug discovery process.
CCS' large scale processes for cell production, freezing and storage
including the entire team of specialised cell culture scientists and
technicians will be fully integrated into Evotec's Hamburg operations to
realise cost synergies and efficiency improvements.
'Through the acquisition of CCS, Evotec strengthens its cell culture
capabilities and gains access to a growing base of customers using cell-
based assays in their drug discovery processes. CCS' experience and
technologies for large scale cell production are a perfect fit with
Evotec's screening and in vitro pharmacology activities', said Dr Mario
Polywka, Chief Operating Officer of Evotec AG.
Dr Oliver Wehmeier, CEO of CCS, adds: 'We are excited to join forces with
Evotec. Our portfolio of custom products perfectly complements Evotec's
integrated service offering. In return, our customers, who have relied on
CCS' products and services for many years, will gain access to Evotec's
broad range of screening technologies, which add a tremendous value to the
assay-ready cells and cell-based reagents we provide.'
Transaction structure reflects value potential
The purchase price consists of a cash consideration of EUR1.15 m and an
earn-out component targeting EUR1.05 m in cash. The earn-out component will
become due following one year after the acquisition and depends upon the
achievement of certain revenue targets.
Despite cash requirements for the transaction and integration of
approximately EUR1.2 m in 2012, Evotec confirms its cash guidance for the
full year of more than EUR60 m.
ABOUT CELL CULTURE SERVICE GMBH (CCS)
CCS is a supplier of custom cells and cell based reagents for the drug
discovery process. The service provider generates tailor-made recombinant
cell lines and develops cell based assays for various applications in
pharmaceutical and biotechnology R&D. For HTS campaigns CCS produces bulk
amounts of assay-ready recombinant, non-recombinant or transiently
transfected mammalian cells and preparations derived thereof. Due to its
semi-automated and scalable but flexible processes and its integrated
quality management system, CCS provides cells of high value which meet
individual customer needs. Working from its headquarter in Hamburg, Germany
or its subsidiary in Monmouth Junction, New Jersey, CCS supports most of
the big pharmaceutical and major biotechnology companies in Europe and the
USA in their effort to discover new therapeutics.
www.cellcultureservice.com
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company
focused on rapidly progressing innovative product approaches with leading
pharmaceutical and biotechnology companies. We operate worldwide providing
the highest quality stand-alone and integrated drug discovery solutions,
covering all activities from target-to-clinic. The Company has established
a unique position by assembling top-class scientific experts and
integrating state-of-the-art technologies as well as substantial experience
and expertise in key therapeutic areas including neuroscience, pain,
metabolic diseases as well as oncology and inflammation. Evotec has
long-term discovery alliances with partners including Bayer, Boehringer
Ingelheim, CHDI, Genentech, MedImmune/Astra Zeneca, Novartis, Ono
Pharmaceutical and Roche. In addition, the Company has existing development
partnerships and product candidates both in clinical and preclinical
development. These include a strategic alliance with Roche for the
development of subtype-selective NMDA receptor antagonists for use in
treatment-resistant depression as well as other partnerships with
Boehringer Ingelheim, MedImmune and with Andromeda (Teva) in the field of
diabetes. For additional information please go to www.evotec.com.
FORWARD-LOOKING STATEMENTS: Information set forth in this press release
contains forward-looking statements, which involve a number of risks and
uncertainties. The forward-looking statements contained herein represent
the judgement of Evotec as of the date of this report. Such forward-looking
statements are neither promises nor guarantees, but are subject to a
variety of risks and uncertainties, many of which are beyond our control,
and which could cause actual results to differ materially from those
contemplated in these forward-looking statements. We expressly disclaim any
obligation or undertaking to release publicly any updates or revisions to
any such statements to reflect any change in our expectations or any change
in events, conditions or circumstances on which any such statement is
based.
Contact Evotec AG:
Dr Mario Polywka, Chief Operating Officer, Phone: +44.(0)1235.441676,
mario.polywka(at)evotec.com
End of Corporate News
---------------------------------------------------------------------
03.01.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Evotec AG
Manfred Eigen Campus / Essener Bogen 7
22419 Hamburg
Germany
Phone: +49 (0)40 560 81-0
Fax: +49 (0)40 560 81-222
E-mail: info(at)evotec.com
Internet: www.evotec.com
ISIN: DE0005664809
WKN: 566480
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
198080 03.01.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 03.01.2013 - 07:29 Uhr
Sprache: Deutsch
News-ID 216292
Anzahl Zeichen: 9695
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 297 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Evotec acquires Cell Culture Service GmbH"
steht unter der journalistisch-redaktionellen Verantwortung von
Evotec AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
