Selvita announced it plans to separate into two companies. One company will focus on development of small molecule therapeutics in oncology and the other will provide contract research services. Each company will build upon capabilities that have been integral to the Company since the founding of Selvita in 2007. Both companies will be publicly listed on the Warsaw Stock Exchange.
"There are clear opportunities for value creation from two entities with freedom to operate independently, built from the separate business units of Selvita today," said Pawel Przewiezlikowski, Chief Executive Officer of Selvita. "We are proud of the work that has brought us to the stage where each unit is at the forefront of an area of expertise. Our capabilities in each unit provide excellent potential for sustainable, long-term growth. We look forward to the increased overall value from each distinct company, building upon an established tradition of operational excellence."
The oncology therapeutics company will control the current Selvita pipeline of small molecules and its engine for consistent discovery of differentiated compounds in oncology. The research services company will pursue further dynamic organic growth and expand its business model with acquisitions of high value complementary biopharmaceutical service providers. The research services company will retain the Selvita name and the oncology therapeutics company will be named at a later date. At the time of the split, approximately 170 individuals or full-time equivalent employees are expected to become part of the therapeutics business and the research services company will employ approximately 325 individuals.