Evotec to buy Kinaxo for €12m
Expands its drug discovery platform
German drug discovery firm Evotec has agreed to purchase Kinaxo Biotechnologies, a Munich-based drug discovery alliance company supporting the development of targeted drugs.
The €12m acquisition confirms Evotec's leading position as a fully integrated drug discovery and early development partner for pharma and biotechnology companies.
The purchase price includes €3m in cash and 2.6 million shares, plus payments of up to €4m dependent on reaching certain performance milestones.
Kinaxo offers a combination of technologies to improve drug development across the entire pharma value chain.
These technologies include Cellular Target Profiling, which uncovers the molecular targets of compounds with unknown mode-of-action and reveals possible off-target side effects early in the discovery and development process; KinAffinity, which determines the cellular selectivity of kinase inhibitors, which represent the most important class of targeted cancer drugs; and PhosphoScout, which provides knowledge on drug modes-of-action in vivo and how they respond to drug treatment.
Werner Lanthaler, chief executive of Evotec, said the acquisition ‘allows us to integrate a powerful response prediction platform with our leading drug discovery expertise’.
