Evotec adds cell therapy facility with acquisition of Rigenerand

German biotech Evotec (EVT: Xetra) today announced the signing of a definitive agreement to acquire 100% of the capital of Rigenerand Srl, an Italian cell technology company.

Then purchase price for the business is 23 million euros ($24.6 million). Evotec’s shares edged up 2.1% to 26.50 euros by late morning.

Founded in 2009 as a spin-off of the University of Modena and Reggio Emilia, Rigenerand is a pioneering company in the field of cGMP manufacturing of cell therapies. The acquisition adds a great team of cell therapy cGMP manufacturing experts to Evotec.

Rigenerand is based in Medolla, Italy, around 100 km south of Evotec’s Campus Levi-Montalcini in Verona. With its highly specialized team, Rigenerand operates a first-class certified facility that integrates state-of-the-art cGMP production with R&D and QC labs and development labs.
The acquisition expands Evotec’s cell therapy platform EVOcells by adding a dedicated, high-quality current Good Manufacturing Practices (cGMP) manufacturing site. The seamless integration of discovery and development of innovative cures combined with in-house capabilities in GMP manufacturing are mandatory within this field.