Evotec acquires Cell Culture Service for €1.2m in cash
Strengthens cell-based screening and reagent platform at Hamburg site
Evotec has acquired Cell Culture Service (CCS), a Hamburg, Germany based supplier of custom cells and cell-based reagents used in drug discovery for €1.2m.
Evotec said the transaction strengthens its position as a leader in drug discovery solutions.
The integration of CCS’ capabilities, such as frozen cell preparations and bulk cell transfection for cell-based screening, will also enable Evotec’s customers to access the latest science and technology infrastructure to increase efficiency in the drug discovery process.
CCS’ large scale processes for cell production, freezing and storage including its team of specialised cell culture scientists and technicians will be fully integrated into Evotec’s Hamburg operations.
‘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, Evotec’s COO.
Dr Oliver Wehmeier, CEO of CCS, added: “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.’
The purchase price consists of approximately €1.15m in cash and an earn-out component targeting €1.05m in cash. The earn-out component will be paid 12 months after the acquisition and depends upon the achievement of certain revenue targets.
