Bioconjugation specialist Innova Biosciences acquired by SYGNIS
Innova’s range of antibody and protein labeling products and services ideally complements SYGNIS’ customer base and existing genomics and proteomics portfolio.
Innova Biosciences (Innova), a specialist provider of bioconjugation products and services, has announced it has been fully acquired by SYGNIS AG, for EUR 8 million in cash and 3.5 million in shares.
Innova’s range of antibody and protein labeling products and services ideally complements SYGNIS’ customer base and existing genomics and proteomics portfolio. SYGNIS’ international presence provides Innova Biosciences with opportunity to expand even further within its already fast growing markets.
The purchase of Innova by SYGNIS AG was priced at EUR 8 million in cash, with a further 2 million shares to be issued by way of a capital increase against contribution in kind, as well as up to a further 1.5 million shares which were issued through a mandatory convertible bond if certain turnover targets are met within a period of 2 years.
“Innova is a natural fit with the SYGNIS Group. Its cutting-edge labeling technology, market knowledge, innovation and creativity is highly complementary and will add significant value to the SYGNIS Group and its customers. Labeling is a central application at several stages in both proteomics and genomics workflow hence the Innova product portfolio fits perfectly with our customer base,” said Dr Heikki Lanckriet, CEO and CSO of SYGNIS: “We welcome the highly skilled and experienced team to the group, and are delighted that Nick Gee will join our management team as Chief Technical Officer.”
Dr Nick Gee, formerly CEO and CSO of Innova, now CTO of SYGNIS, added: “SYGNIS offers a great platform to grow our business internationally and will give us access to new target audiences and markets. SYGNIS and Innova technologies are highly complementary, and can be sold through the same sales channels. We were particularly attracted by the sales reach of SYGNIS, which will enable us to grow our business even more quickly. The proximity of our locations here in Cambridge also makes achieving synergies readily attainable. We are delighted to be part of a larger, stronger team.”
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance