Drug Research
Drug Discovery & Development

Evotec to acquire Aptuit for $300m

Published 31 July 2017

German small molecule drugs developer Evotec has agreed to acquire pharmaceutical services company Aptuit for $300m from private equity firm Welsh, Carson, Anderson & Stowe (WCAS).

Under the agreement, Evotec will pay $300m in cash, which will be financed through a mix of existing cash reserves and an additional EUR140m senior debt facility.

The acquisition includes 100% of the issued and outstanding equity interests of Aptuit Global LLC, Aptuit (Potters Bar) Limited, and Aptuit (Switzerland). The transaction also includes funding of existing company debt.

The deal is expected to close in the third quarter of 2017. Aptuit reported revenues of EUR88m in 2016.

The acquisition is expected to strengthen Evotec’s role as a leading player in integrated outsourced drug discovery and development solutions.

The company is keen on creating a value chain extension through unique solutions in integrated drug discovery and development.

Aptuit offers expertise across drug discovery, pre-clinical testing and drug substance, and drug product manufacturing to biotech and pharmaceutical companies.

It has three facilities at Verona in Italy, Basel in Switzerland, and Oxford, the UK. It provides services in the US, the UK, India and Italy.

Evotec CEO Werner Lanthaler said: “Bringing together two major players in the drug discovery industry is a big step forward for Evotec to expand our unique focus in external innovation for pharma, biotech and foundations.”

Aptuit CEO Jonathan Goldman said: “I am delighted that Aptuit’s unique value proposition of world-class scientists has combined with the Evotec team to create a best-in-class company.”