Evotec Completes Acquisition of Kinaxo Biotechnologies GmbH
Evotec AG announced that it has completed the acquisition of Kinaxo Biotechnologies GmbH, a privately held drug discovery alliance company supporting the development of targeted drugs. As a result of the transaction, first announced on February 9, 2011, Kinaxo has become a wholly-owned subsidiary of Evotec. It is intended to grow and fully integrate the Kinaxo site in Munich, as Evotec Munich.
With the acquisition of Kinaxo, Evotec is expanding its drug discovery platform with cutting-edge technologies. Furthermore, Evotec adds proprietary technologies for drug response prediction as well as drug efficacy and safety assessment, especially in the key indication area oncology. Kinaxo's capabilities comprise a unique combination of innovative technologies improving drug discovery and development across the entire pharma value chain. These skills strengthen Evotec's position as the quality leader in drug discovery. The synergies are expected to result in a much broader customer reach through integration of the former Kinaxo service business into Evotec's performance based drug discovery alliances.
With the completion of the acquisition the sellers of the shares in Kinaxo Biotechnologies GmbH transferred 100% of their shares to Evotec AG. Therewith, all Closing conditions have been successfully fulfilled. Evotec AG issues 2.597.400 shares from its authorized capital as part consideration for the transaction. All Evotec shares issued are subject to certain lock-up provisions. Following the registration of these shares at the trade register, Evotec's issued share capital will be €118.193.132.
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