Selvita completes acquisition of Fidelta from Galapagos
Mechelen, Belgium and Krakow, Poland – 04 January 2021, 22.01 TIME CET – Galapagos NV (Euronext & NASDAQ: GLPG) and Selvita S.A. (WSE: SLV) announced today that the strategic
transaction in which Selvita has acquired Fidelta from Galapagos has been completed.
The closing of the transaction comes shortly after its first announcement on November 23, 2020. Selvita has acquired 100% of the outstanding shares in Fidelta for an enterprise value of €31.2M plus the customary adjustments for net cash and working capital.
Acquisition of Fidelta substantially expands Selvita’s integrated drug discovery services offering and strengthens its position as one of the largest preclinical contract research organizations in Europe. The transaction will almost double Selvita’s revenues. Fidelta will now be fully consolidated under the Selvita Group, it will however continue to operate under the Fidelta name.
Fidelta is a contract research organization with core scientific competences in inflammation, fibrosis, and anti-infectives. The scope of services provided by Fidelta is complementary to Selvita’s offerings and will enable Selvita to build a competitive advantage in business areas such as DMPK, in vivo pharmacology, and toxicology, as well as increase its scale of operations within medicinal chemistry and in vitro pharmacology.
Fidelta currently employs 181 employees, including over 150 highly experienced scientists, providing integrated drug discovery services in the biotech and pharmaceutical industry, with a proven track record of accomplished laboratory projects over many years. The Company is located in state-of-the art R&D facilities in Zagreb, Croatia which offer almost 6,000 m2 of research space. Fidelta will continue performing drug discovery services for Galapagos for the next five years.
Selvita is a preclinical Contract Research Organization providing multidisciplinary support in resolving the unique challenges of research within area of drug discovery, regulatory studies, as well
as research and development.
The Company was established in 2007 and currently employs over 550 professionals, of which over 1/3 hold a PhD title. Selvita is headquartered in Krakow, Poland, with a second research site in Poznan, Poland and international offices located in Cambridge, MA and South San Francisco, in the U.S., as well as in Cambridge, UK. Selvita is a major shareholder in Ardigen – bioinformatics company harnessing advanced Artificial Intelligence methods for novel precision medicine.