The purchase price consists of a cash consideration of £1.9m ($3.2m) and a deferred payment of £1.25m ($2.1m) in cash, which may be paid two years after the acquisition depending on business performance and certain revenue targets. The deal is expected to close in the first half of this year.
Euprotec supports each stage of anti-infective drug discovery and development programmes from discovery through to late stage pre-clinical investigation and clinical proof-of-concept studies. The company also offers a portfolio of assays and disease models, underpinned by internationally recognised expertise.
“Antibiotic resistance to existing therapies has reached a crisis point and there is an urgent need for new antibacterials,” Evotec spokesman Gabriele Hansen told us. “After years of industry-wide disinvestment from antibiotic research, a few large companies are re-investing, e.g Roche.”
Integration of Euprotec's capabilities broadens and complements Evotec's high-end drug discovery platform with anti-infective screening, early Pharmacokinetic/Pharmacodynamic (PK/PD) profiling, a range of disease and efficacy models for characterisation of anti-bacterials, anti-fungals and anti-virals.
“The acquisition will add a comprehensive and growing range of capabilities and depth of expertise that covers microbiology, antimicrobial drug discovery and development, pre-clinical efficacy and disease modelling and PKPD profiling,” Hansen added. “An exciting aspect of the acquisition is the biological expertise and capability it brings to prosecute more efficiently programmes such as TargetPGB and TargetPicV and other anti-infective based projects we plan to start.”
TargetPicv involves Evotec’s work with Haplogen to develop drugs against a human protein that is essential for pathogenic viruses to infect their host cell. The focus of TagetPGB is to develop a novel family of antibacterial drugs based on highly validated targets together with Harvard University researchers.
Dr Lloyd Payne, CEO and co-founder of Euprotec, added: "Our vision of delivering integrated, world-class anti-infective discovery solutions to our clients will now be realised. We look forward to an exciting new phase of growth with Evotec and, most importantly, working with our customers to accelerate the development of new breakthrough anti-infective vaccines and therapies."