Evotec completes acquisition of Aptuit

Employees and capabilities will be integrated into Evotec's global drug discovery group to maximise commercial synergies.

Evotec paid a total consideration of approximately 300 million in cash for the acquisition of Aptuit from Welsh, Carson, Anderson & Stowe (WCAS), a leading private equity firm. The acquisition of 100% of the issued and outstanding equity interests of Aptuit is financed through a mix of existing cash reserves and an additional new EUR 140 m senior debt facility.

Aptuit, a partner research organisation for integrated outsourced drug discovery and development solutions, provides a complete set of integrated early discovery to mid-phase drug development services, including INDiGO, an integrated and highly efficient process to IND submission, complemented by high-end integrated CMC. Aptuit has approximately 750 employees, mainly scientists, working across three state-of-the-art discovery, development and manufacturing facilities in Europe in Verona, Italy; Basel, Switzerland; and Oxford, UK. Completing more than 1,000 projects in 2016 (for over 400 customers), Aptuit has a very strong network in small, medium and large biopharma and a high level of repeat business. Aptuit will continue to operate and serve its loyal client base in all currently existing segments under its current set-up. Employees and capabilities will be integrated into Evotec's global drug discovery group, thereby creating the premier drug discovery and development innovation partner leveraging both companies' extensive partner networks, platforms and maximising commercial synergies.