Evotec SE to Acquire Just Biotherapeutics, Inc.
Monday, May 20, 2019 5:15 PM
HAMBURG, GERMANY / ACCESSWIRE / May 20, 2019 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809, WKN 566480) announced today the signing of a definitive agreement under which Evotec will acquire Just Biotherapeutics, Inc. ("Just.Bio") based in Seattle, WA, USA for up to US$ 90 m (approx. EUR 81 m; EUR/$ fx rate of 1.117) including potential performance-based earn-out components expected within the next three years. The acquisition of 100% of the issued and outstanding equity interests of the company will be paid in cash.
Just.Bio is a unique technology company that integrates highly synergistic scientific expertise and technologies for design, development, and manufacturing of biologics. The acquisition grows Evotec's business into a comprehensive offering including biologics in therapeutic areas such as oncology, CNS, pain, inflammation, metabolics, and infectious diseases. Just.Bio has approx. 90 employees, mainly scientists, all working at a state-of-the-art discovery, development and manufacturing facility in Seattle, WA, USA.
The completion of the transaction is subject to customary closing conditions. The acquisition is expected to close in the second quarter of 2019.
Dr Werner Lanthaler, Chief Executive Officer, Evotec SE, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49(0)40560 81-242, [email protected]
SOURCE: Evotec AG