Evolva strengthens in-silico capabilities with acquisition of Prosarix
Evolva Holding SA (SIX: EVE) today announces the acquisition of Cambridge, UK based Prosarix Ltd., a leading in silico (computational) modelling company focusing on small molecule identification, design, biosynthesis and function.
Evolva and Prosarix have worked extensively together on multiple projects and products for eight years, in a progressively more integrated manner. This ever-deepening collaboration led both companies to conclude that a full combination and alignment of interests was the next logical step in furthering the relationship.
Prosarix’s capabilities will be integrated into all Evolva current and future projects and partnerships. Examples of areas where Prosarix’s technologies complement Evolva’s include:
- Algorithmic optimisation of gene libraries used in Evolva’s proprietary combinatorial pathway technologies
- In-silico prediction of natural ingredient functions – f.x. how ingredients will taste based on their interaction with receptors in the tongue, nose or GI tract
- Optimisation of specific enzymes to overcome pathway flux bottlenecks or reduce unwanted side-products that may complicate down-stream purification
Commitments to Prosarix’s existing customers and partners will be fulfilled. Prosarix’s operations near Cambridge UK will be maintained and Prosarix employees will become Evolva employees.
Evolva will purchase Prosarix with shares: the Prosarix shareholders will receive 1.2 million Evolva shares upfront (0.4% of Evolva’s issued capital). The shares will be sourced from Evolva’s treasury and as such not increase the total number outstanding (277 million shares at the end of June 2014). Prosarix shareholders are further entitled to 2 million (0.7%) additional Evolva shares between 2015 and 2018, linked to certain conditions.
The Prosarix acquisition has no impact on Evolva’s financial guidance for 2014. Discussions on an additional potential acquisition, first mentioned on 25 February 2014, are still in progress.
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Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, vanilla, saffron and resveratrol. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com.
Prosarix is a privately-owned biotechnology company based in Cambridge, UK. It develops computational approaches and products to assist in many aspects of drug discovery. Its primary customer focus is within the biotech and pharmaceutical sectors. Prosarix has developed ProtoDiscovery™, a validated, state-of-the-art computational platform with which it is pioneering novel approaches for the identification and optimisation of small molecules. This translates to a unique ability to discover new target possibilities for existing compounds or favoured chemistries. As well as applying this to more conventional small molecule compounds, these techniques have also been applied to natural product-like structures and compounds originating from biosynthetic routes, including the design of such routes. For more information see www.prosarix.com.
|Neil Goldsmith, CEO||Jakob Dynnes Hansen, CFO||Paul Verbraeken, IR|
|[email protected]||[email protected]||[email protected]|
|+ 41 61 485 2005||+ 41 61 485 2034||+ 41 61 485 2035|
This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
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