Bioconjugation specialist Innova Biosciences acquired by SYGNIS AG
June 26th, 2017
Innova CEO and CSO Dr. Nick Gee becomes Chief Technical Officer of SYGNIS
Madrid, Spain, Heidelberg, Germany, and Cambridge, UK, 26th June 2017: 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 two 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.”
About Sygnis AG 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 US -based life sciences tools company C.B.S. Scientific in December 2016 to further expand its product offering. 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).
About Innova Biosciences Limited www.innovabiosciences.com
Innova Biosciences are world leading experts in easy-to-use, cutting-edge bioconjugation technologies and services. The Company has the flexibility to support scientists from academia through to commercial manufacturing, developing and supplying reagent products to make science easier, both off-the shelf and to customer specification. Innova’s products are based on its antibody and protein labelling technology, nanoparticle and oligonucleotide labelling and phosphate detection enzyme assay technologies. All of Innova Biosciences’ product ranges are of the highest quality and are designed to streamline R&D and manufacturing processes, whilst also reducing overall project costs by cutting expenses associated with e.g. material waste, in-house equipment and staff time, providing increased return on investment compared to traditional methods. Innova Biosciences’ ever expanding portfolio, including the Lightning-Link®, InnovaCoat® and Thunder-Link® brands, is available to research laboratories, pharmaceutical, biotechnology and diagnostic companies worldwide. Innova Biosciences is a privately held company and was founded in 2002.