Evotec Acquires Compound Focus for €12.5M
Evotec said the transaction would substantially augment its early drug discovery, provide critical mass to its existing compound management offering, and add profitable revenues.
Evotec AG, a Germany-based biotechnology company, recently announced that it has acquired Compound Focus, the compound management business of BioFocus, a Galapagos company, for €12.5m.
Compound Focus, based in South San Francisco, US, offers small molecule compound management services. The company's technologies are focused on automated storage and custom design solutions for small molecule drugs. Customers include US federal institutes and pharma companies such as Elan, Lundbeck, Sepracor and Procter & Gamble. In 2010, Compound Focus had revenues of €7.8m with an operating profit of €2.6m.
Evotec will pay Belgium-based Galapagos an immediate cash payment of €10.25m and an additional €2.25m in potential earn out payments upon performance of the business in 2012/2013 dependi
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