19:43 8 May 2024
Selvita Acquires PozLab for PLN 25 Million to Expand Drug Development Portfolio
Selvita has finalized its acquisition of PozLab for PLN 25 million, marking a significant expansion in its drug development services. The deal includes 100% of PozLab's shares and strengthens Selvita's position in developing small-molecule drugs while allowing entry into the production of drugs for early clinical trials.
Selvita co-founder and president Bogusław Sieczkowski highlighted that the acquisition extends the company's value chain and secures important parts of its current business. The company also gains specialized microbiological testing competencies previously provided by PozLab.
Selvita paid PLN 21 million at the transaction's closing, retaining an additional PLN 4 million for up to 12 months to cover potential claims or price adjustments. PozLab's revenue in 2023 was PLN 15.3 million, with an EBITDA of PLN 1.7 million. The company employs over 80 staff and operates out of the YouNick Technology Park near Poznań.
Selvita aims to leverage its expanded international sales force to boost PozLab's sales and profitability. This acquisition underscores Selvita's commitment to providing comprehensive drug development services to the pharmaceutical industry.
Source: inwestycje.pl
