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Evotec signs definitive agreement to acquire all shares in Kinaxo

December 09, 2015

Prof. Dr. Axel Ullrich, Director of the Max-Planck-Institute for Biochemistry, Martinsried, and co-founder of Kinaxo, commented: "Kinaxo has built a unique technology platform that allows comprehensive analysis of cancer signal transduction processes and their response to drug treatment. The integration of the leading drug discovery capability will implement Evotec as a driver towards personalised medicine in the future."

Transaction structure reflects value potential

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.

Evotec invites you to join a conference call announcing the acquisition of Kinaxo.

Source: Evotec