During a conference call today, Dr Wener Lanthaler, CEO described the move as “a big step forward.”
“It’s a strong addition to our drug discovery platform,” he said.
According to Evotec, the acquisition will provide it with an industrialized ADME-Tox platform, expertise in in vitro ADME screening, mechanistic and high-content toxicology screening, and predictive modelling.
With these additional capabilities, Lanthaler said Evotec’s platform “becomes even more complete and even more robust and more quality driven than ever before.”
Dr Mario Polywka, Evotec COO, added that the company’s strategy is to “drive top and bottom lines so we are able to invest in our first in class and best in class internal programs as well as serving our external partners.”
"The addition of Cyprotex's technologies and expertise beautifully dovetails with our capabilities in screening, protein production, profiling, synthetic chemistry, as well as helping to bring these all together to deliver on integrated projects," he said on the call.
The proposed acquisition is expected to close before the end of 2016. Evotec has offered to pay approximately £55.36m ($67.65) in cash for the acquisition of all Cyprotex shares.