Just.Bio’s capabilities and expertise comprise an in-house, integrated technology platform, J.DESIGN, enabling smart and efficient biologics’ drug development from design and lead optimisation to manufacturing:
- J.MD™ is a technology-based process development tool using Abacus™ as machine learning-based computer-aided design tool to predict and select optimial molecules for further development
- JP3® includes lab and computational tools for rapid development of a high-yielding manufacturing process along with a cGMP early clinical manufacturing facility
- Significant further potential lies in the company’s J.POD® technology for flexible and modular larger scale manufacturing of clinical and commercial stage biologics
Transaction structure reflects value potential
During recent years, Just.Bio has been able to attract a diversified customer portfolio resulting in strong financial growth. With reported 2018 revenues of approx. € 20 m, Just.Bio was able to achieve revenue growth rates that are above the general market growth. Evotec will pay a total consideration of up to $ 90 m (approx. € 81 m; €/$ fx rate of 1,117) including potential earn outs in the next three years. The initial consideration upon closing is $ 60 m1) (approx. € 54 m; €/$ fx rate of 1,117). The acquisition of 100% of the issued and outstanding equity interests of the company will be paid in cash to a syndicate of institutional investors of ARCH Venture Partners, Merck & Co., Lilly Asia Ventures and the Bill & Melinda Gates Foundation. The acquisition will add to Evotec’s revenue growth and will strengthen Evotec’s overall strategic plan. The potential guidance update will be given latest upon reporting of half-year 2019 figures. Just.Bio will be financially fully consolidated under the Evotec Group.