PerkinElmer to Acquire High-Throughput Screening Shop Evotec Tech

PerkinElmer plans to acquire high-throughput screening Evotec Technologies for €23 million ($30.5 million) in cash, German parent company Evotec said late yesterday.

 

Evotec makes and sells tools for high-throughput and high-content cell and biochemical screening. PerkinElmer CEO Gregory Summe said in a statement that the acquisition will “help our customers speed target validations and lead optimization along the drug discovery value chain.”

 

Evotec Tech CEO Carsten Claussen said that “this is the time to exploit our potential as part of a larger entity with a significantly broader sales force, portfolio strategy, and R&D resources.”

 

Parent Evotec said the move is part of its strategy to focus the company on drug development, and said the proceeds from the sale will help fund its central nervous system pipeline.

 

The companies expect the deal to close in late December or early 2007. It is subject to shareholder approval and to other closing conditions.

 

Source from GenomeWeb Daily News