MECHELEN, Belgium and KRAKOW,
Poland, Jan. 4, 2021 /PRNewswire/ -- 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.
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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SOURCE Selvita S.A.; Galapagos NV