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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