Evotec acquires Euprotec to augment anti-infectives platform
Thursday, May 29, 2014
Evotec has acquired Euprotec, a U.K.-based specialist CRO. With a comprehensive portfolio of assays and disease models, Euprotec supports anti-infective drug discovery and development programs through to late stage preclinical investigation and clinical proof-of-concept studies.
The acquisition of Euprotec confirms Evotec’s position as a fully integrated drug discovery and early development partner for pharma and biotechnology companies. Integration of Euprotec’s unique capabilities augments and complements Evotec’s high-end drug discovery platform with anti-infective screening, early PK/PD (pharmacokinetic/pharmacodynamic) profiling, an extensive range of disease and efficacy models for characterization of anti-bacterials, anti-fungals and anti-virals, StrainBank, a unique collection of clinical isolates, and core disease biology know-how in infection.
“Through the acquisition of Euprotec, Evotec expands its technological portfolio to offer a complete infrastructure and discovery solutions in infectious diseases,” said Dr. Werner Lanthaler, CEO of Evotec. “Importantly, we acquire highly innovative approaches, within our core competence along the discovery value chain, to open new therapeutic routes in the major market of infectious diseases. There is a pressing need for new agents to treat key infections due to emerging resistance to current therapies. Currently, Evotec has two innovative programs, TargetPicV and TargetPGB, to develop drugs to treat infectious diseases, and with this acquisition we can expand this portfolio.”
The purchase price consists of a cash consideration of $3.2 million and a deferred payment component of $2.1 million in cash. The deferred payment will be due following two years after the acquisition and depends upon the business performance and achieving certain revenue targets.