The acquisition of Cyprotex was realised in the context of Evotec’s strategic intention to further develop its global drug discovery platform, with Evotec stating that the integration of the business will substantially improve its ability to provide its partners with access to the most comprehensive drug discovery platform. Evotec paid GBP 55.7 million for the acquisition of 100% of Cyprotex’s shares and the funding of its debt. Cyprotex was an AIM-listed company and the public takeover was completed by way of a scheme of arrangement.
Cyprotex is the world’s largest CRO specialising in pre-clinical ADME-Tox and DMPK serving the pharmaceutical, chemical, agrochemical and cosmetics markets. Founded in 1999 and headquartered in the UK, Cyprotex was publicly traded on AIM (CRX) at the time of the transaction. It has 136 employees working from sites in Macclesfield and Alderley Park, both located near Manchester in the UK, and in Watertown (MA) and Kalamazoo (MI) in the USA. With more than 1,500 partners, Cyprotex has a very strong customer network.
Dr. Mario Polywka, Chief Operating Officer of Evotec, remarked on the transaction: “We are pleased the acquisition has closed and we can now approach the exciting phase of welcoming Cyprotex’ employees and clients to our global drug discovery services platform. Cyprotex’ proven technology platform and its expert and dedicated employees perfectly augment Evotec’s business strategy and offering.”