Evotec acquires Cell Culture Service GmbH; expands deal with AstraZeneca

7 January 2013

German biotech firm Evotec (EVT: TecDAX) has acquired all the shares in Cell Culture Service GmbH (CCS), a Hamburg-based company which supports the cell culture needs of a worldwide customer base of biotech and pharmaceutical companies.

CCS is one of the leading suppliers of custom cells and cell-based reagents such as recombinant assay cell lines, assay-ready Frozen Instant Cells, qualified membranes, and proteins for high throughput screening with more than ten years experience in bulk cell production.

The purchase price consists of a cash consideration of 1.15 million euros ($1.5 million) and an earn-out component targeting 1.05 million euros in cash. The earn-out component will become due following one year after the acquisition and depends upon the achievement of certain revenue targets.

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