NEW YORK (GenomeWeb News) – Evotec today announced it has acquired custom cell and cell-based reagents firm Cell Culture Service for up to €2.2 million ($2.9 million).
Evotec will pay €1.15 million in cash as part of the deal. CCS is also eligible for an earn-out payment of €1.05 million due one year after the acquisition and dependent on certain revenue targets being met.
CCS supplies custom cells and cell-based reagents for drug discovery, and its product line includes recombinant assay cell lines, assay-ready frozen instant cells, qualified membranes, and proteins for high-throughput screening. The firm's cell production, freezing, and storage operations, including its lineup of specialized cell culture scientists and technicians will be integrated into Evotec's Hamburg operations, Evotec said.
CCS was already based in Hamburg and has a subsidiary based in Monmouth Junction, NJ.
"Through the acquisition of CCS, Evotec strengthens its cell culture capabilities and gains access to a growing base of customers using cell-based assays in their drug discovery processes," Evotec COO Mario Polywka said in a statement. "CCS' experience and technologies for large-scale cell production are a perfect fit with Evotec's screening and in vitro pharmacology activities."