SYGNIS Announces Successful Completion Of Acquisition Of Innova Biosciences
Published: Jul 05, 2017
Madrid, Spain, and Heidelberg, Germany, July 05, 2017 - SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) is pleased to announce that the Company has successfully completed its acquisition of Innova Biosciences Ltd.
SYGNIS AG paid EUR 10.8 million, consisting of EUR 8 million in cash and 2 million shares of SYGNIS AG as a contribution in kind. Depending on agreed performance indicators, the purchase price will also include up to 1.5 million shares issued as convertible bonds. To finance this transaction, SYGNIS successfully completed two capital increases in May 2017.
"We are delighted and proud to announce the completion of this acquisition which strengthens the SYGNIS brand and marks an important step towards leadership in the genomic and proteomic market," Dr. Heikki Lanckriet, CEO and CSO of SYGNIS, said. "This allows us to cater to our main goal of adding value for life science customers and significantly accelerate our growth. I would like to take the opportunity to commend both our teams, strategic partners and investors on the successful passing of this important milestone."
"We are thrilled to be part of the SYGNIS Group, providing not only a great platform to grow our business internationally, but also giving us access to new target customers and markets. The fact that SYGNIS' and Innova's technologies are complementary allows us to capitalize on the resulting synergies. The new structure will enable us to grow our business even more quickly," Dr. Nick Gee, CTO of SYGNIS, said.
As part of the merger, Dr. Nick Gee, former CEO and CSO of Innova was appointed to Chief Technical Officer of SYGNIS.
With a complementary portfolio covering the complete molecular biology value chain, SYGNIS is able to offer cutting-edge technology and services for all steps of the process, in particular by taking into account the synergistic Innova portfolio of over 300 products and the development of ad-hoc solutions to fit customers' needs.
For further information, please contact:
Dr. Heikki Lanckriet
Phone: +44 1223 873 364
MC Services AG
Phone: +49 89 210228 0
About SYGNIS AG: http://www.sygnis.com
SYGNIS AG specializes in the development and commercialization of proprietary technologies and offers a wide range of commercial products addressing key challenges in molecular biology. With the 2016 acquisition of Expedeon Holdings, Ltd. based in the UK, SYGNIS added a complementary proteomics product portfolio. Resulting from this significant expansion, SYGNIS' product portfolio now covers the entire workflow of molecular biology. In addition, SYGNIS acquired the profitable U.S.-based life sciences tools company C.B.S. Scientific in December 2016 to further expand its product offering. In June 2017, the Company acquired Innova Biosciences Ltd., world leading experts in easy-to-use, cutting-edge bioconjugation technologies and services. The products of SYGNIS Group are sold through a direct sales force and several distribution partners in Europe, the U.S. and Asia. SYGNIS AG has offices in Germany, Spain and the UK, production sites in the UK and the U.S. as well as sales offices in Asia. The company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (Ticker: LIO1; ISIN: DE000A1RFM03).