Evotec AG announced has successfully completed the acquisition of Aptuit as announced in detail on 30 July 2017. This acquisition adds considerable business opportunities to further accelerate Evotec's long-term strategy to be the industry partner of choice for external innovation.
Evotec paid a total consideration of approx. $ 300 m in cash for the acquisition of Aptuit from Welsh, Carson, Anderson & Stowe (WCAS), a leading private equity firm. The acquisition of 100% of the issued and outstanding equity interests of Aptuit is financed through a mix of existing cash reserves and an additional new EUR 140 m senior debt facility.
Aptuit, a partner research organization for integrated outsourced drug discovery and development solutions, provides a complete set of integrated early discovery to mid-phase drug development services, including INDiGO, an integrated and highly efficient process to IND submission, complemented by high-end integrated CMC. Aptuit has approx. 750 employees, mainly scientists, working across three discovery, development and manufacturing facilities in Europe in Verona, Italy; Basel, Switzerland; and Oxford, United Kingdom. Completing more than 1,000 projects in 2016 (for over 400 customers), Aptuit has a network in small, medium and large Biopharma and a high level of repeat business. Aptuit will continue to operate and serve its loyal client base in all currently existing segments under its current set-up. Employees and capabilities will be integrated into Evotec's global drug discovery group, thereby creating the premier drug discovery and development innovation partner leveraging both companies' extensive partner networks, platforms and maximizing commercial synergies.
"The acquisition is a significant step forward in our vision to lead services for external innovation and to build a co-owned pipeline,” Dr. Werner Lanthaler, Chief Executive Officer of Evotec, said. “This business combination strengthens Evotec's position to lead the megatrend of external innovation. We warmly welcome the Aptuit employees to the Evotec Group and look forward to working with them."