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news.Evotec has obtained all shares in a Hamburg-based company Cell Culture Service (CCS) for initial purchase price of approx €1.2m in cash plus an earn-out payment dependent on business performance.
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The acquisition is expected to strengthen cell-based screening and reagent platform at Evotec’s Hamburg site.
CCS produces recombinant assay cell lines, assay-ready Frozen Instant Cells, qualified membranes, and proteins for high throughput screening and is experienced in bulk cell production.
Evotec chief operating officer Dr Mario Polywka said, "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."
Large scale processes for cell production, freezing and storage along with the CCS’s entire team of specialised cell culture scientists and technicians will be fully integrated into Evotec’s Hamburg operations.
CCS CEO Dr Oliver Wehmeier said the company’s products match 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," Wehmeier added.
The earn-out component targeting €1.05m in cash, that depends upon the achievement of certain revenue targets, will become due subsequent to one year after the acquisition.