Selvita completes acquisition of Fidelta from Galapagos
January 04 2021 - 4:01PM
Selvita completes acquisition of Fidelta from Galapagos
Mechelen, Belgium and Krakow, Poland – 04
January 2021, 22.01 TIME CET – Galapagos NV (Euronext & NASDAQ:
GLPG) and Selvita S.A. (WSE: SLV) announced today that the
strategic transaction in which Selvita has acquired Fidelta from
Galapagos has been completed.
The closing of the transaction comes shortly
after its first announcement on November 23, 2020. Selvita has
acquired 100% of the outstanding shares in Fidelta for an
enterprise value of €31.2M plus the customary adjustments for net
cash and working capital.
Acquisition of Fidelta substantially expands
Selvita’s integrated drug discovery services offering and
strengthens its position as one of the largest preclinical contract
research organizations in Europe. The transaction will almost
double Selvita’s revenues. Fidelta will now be fully consolidated
under the Selvita Group, it will however continue to operate under
the Fidelta name.
Fidelta is a contract research organization with
core scientific competences in inflammation, fibrosis, and
anti-infectives. The scope of services provided by Fidelta is
complementary to Selvita’s offerings and will enable Selvita to
build a competitive advantage in business areas such as DMPK, in
vivo pharmacology, and toxicology, as well as increase its scale of
operations within medicinal chemistry and in vitro
pharmacology.
Fidelta currently employs 181 employees,
including over 150 highly experienced scientists, providing
integrated drug discovery services in the biotech and
pharmaceutical industry, with a proven track record of accomplished
laboratory projects over many years. The Company is located in
state-of-the art R&D facilities in Zagreb, Croatia which offer
almost 6,000 m2 of research space. Fidelta will continue performing
drug discovery services for Galapagos for the next five years.
About Selvita
Selvita is a preclinical Contract Research
Organization providing multidisciplinary support in resolving the
unique challenges of research within area of drug discovery,
regulatory studies, as well as research and development. The
Company was established in 2007 and currently employs over 550
professionals, of which over 1/3 hold a PhD title. Selvita is
headquartered in Krakow, Poland, with a second research site in
Poznan, Poland and international offices located in Cambridge, MA
and South San Francisco, in the U.S., as well as in Cambridge, UK.
Selvita is a major shareholder in Ardigen – bioinformatics company
harnessing advanced Artificial Intelligence methods for novel
precision medicine. Selvita has a proven track record of
successfully completed projects and customers in 40 countries. The
majority of Company revenues come from pharma, biotech, chemical
and agrochemical companies from the U.S. and Europe. Selvita is
listed on the Warsaw Stock Exchange (WSE:SLV). More information at
www.selvita.com.
About Galapagos
Galapagos (Euronext & NASDAQ: GLPG)
discovers and develops small molecule medicines with novel modes of
action, several of which show promising patient results and are
currently in late-stage development in multiple diseases. The
company’s pipeline comprises early discovery through to Phase 3
programs in inflammation, fibrosis, and other indications.
Galapagos’ ambition is to become a leading global biopharmaceutical
company focused on the discovery, development and commercialization
of innovative medicines. More information at www.glpg.com.
Contacts SelvitaMedia &
Investors:Natalia Baranowska +48 784 069 418
natalia.baranowska@selvita.com |
Contacts
Galapagos Investors:Elizabeth
GoodwinVP Investor Relations +1 781 460 1784 Sofie Van
GijselSenior Director Investor Relations+32 485 19 14
15ir@glpg.com Media:Carmen
VroonenGlobal Head of Communications & Public Affairs+32 473
824 874 Anna GibbinsSenior Director Therapeutic Areas
Communications+44 7717
801900communications@glpg.com |
Forward-looking statements Selvita
Information set forth in this press release
contains forward-looking statements, which involve a number of
risks and uncertainties. The forward-looking statements contained
herein represent the judgement of Selvita as of the date of this
press release. Such forward-looking statements are neither promises
nor guarantees but are subject to a variety of risks and
uncertainties, many of which are beyond our control, and which
could cause actual results to differ materially from those
contemplated in these forward-looking statements.
We expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any
such statements to reflect any change in our expectations or any
change in events, conditions or circumstances on which any such
statement is based.
Forward-looking statements Galapagos
This press release includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended, that are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from those referred to in the forward-looking
statements and, therefore, the reader should not place undue
reliance on them. These risks, uncertainties and other factors
include, without limitation, the risk that Galapagos’ expectations
regarding Fidelta’s future service performance for Galapagos would
be incorrect, as well as those risks and uncertainties identified
in our Annual Report on Form 20-F for the year ended 31 December
2019 and our subsequent filings with the SEC. All statements other
than statements of historical fact are statements that could be
deemed forward-looking statements. The forward-looking statements
contained herein are based on management’s current expectations and
beliefs and speak only as of the date hereof, and Galapagos makes
no commitment to update or publicly release any revisions to
forward-looking statements in order to reflect new information or
subsequent events, circumstances or changes in expectations.
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