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Sygnis AG. (12/21/16). "Press Release: Sygnis AG Acquires Profitable US Life Sciences Tools Company C.B.S. Scientific for US $0.9 Million in Cash and Shares". Madrid & Heidelberg.

Organisations Organisation Sygnis AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard)
  Group Genetrix (ES) (Group)
  Organisation 2 C.B.S. Scientific Company
  Group Genetrix (ES) (Group)
Products Product laboratory equipment and instruments
  Product 2 electrophoresis
Index terms Index term C.B.S. Scientific–Genetrix (ES): investment, 201612 acquisition $900k of C.B.S. Scientific Company for $540k cash + $360k in shares by Sygnis AG
  Index term 2 Expedeon–Genetrix (ES): investment, 201605–201608 acquisition of Expedeon Holdings Ltd by Sygnis AG for €1.7m cash + na shares
Persons Person Lanckriet, Heikki (Expedeon 201111 CEO + Founder)
  Person 2 de la Huerta Martinez, Pilar (Sygnis Pharma 201303– CEO + CFO before Genetrix CEO before Zeltia)
     


• C.B.S. estimated revenues in excess of $1,500,000 in 2016

• Profitable and cash generative

• Strong sales synergies and significant potential for future revenue growth


SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) today announced the execution of a binding agreement for the acquisition of C.B.S. Scientific Company Inc. (C.B.S.), a profitable Life Sciences tools company located in San Diego, USA.

SYGNIS will pay a total consideration of $900,000 of which $540,000 is in cash, funded from existing cash balances and $360,000 in the form of 275,311 new shares in SYGNIS AG to be issued from authorized capital. Five-sixths (5/6) of the shares issued to C.B.S stock holders will be restricted from trading for six months from the date of the registration of the excecution of the respective capital increase. After this period of time, with the beginning of every month, one-sixth (1/6) of the new shares shall be released from the aforementioned lock-up rule.

The acquisition of C.B.S. is anticipated to be earnings enhancing and cash generative from the onset. Current revenues are in excess of $1,500,000 p.a. and the strong synergies between the C.B.S. and SYGNIS product portfolios, plus the sales and customer base provide a clear opportunity for solid post acquisition revenue growth. Combining the Expedeon business location in San Diego and C.B.S. will allow additional cost savings.

C.B.S. has developed a strong global brand in electrophoresis equipment and scientific instrumentation for genomics and proteomics research. At C.B.S., products are engineered for versatility, optimal performance and ease of use. The company’s product offering is highly complementary to SYGNIS’ product ranges and includes a wide variety of electrophoresis systems as well as DNA mutation detection systems and DNA workstations to provide a contaminant free environment for DNA amplification.

Dr. Heikki Lanckriet, Co-CEO and CSO of SYGNIS, said: “Following on from the successful integration of Expedeon into the SYGNIS Group, this new acquisition further strengthens SYGNIS’ presence in the North American market, particularly in California. Furthermore the strong brand associated with the C.B.S. products will solidify our position as a global supplier in the Life Sciences and reagents market. With the addition of complementary product lines, SYGNIS now aims to cover its core genomic and proteomic workflows more comprehensively. The additional sales channels provide the Group with enhanced revenue generating potential. The combination of strong organic growth with complementary acquisitive growth provides a very strong basis for SYGNIS’ ultimate goal to become the leading Life Sciences tools and reagents company.”

Pilar de la Huerta, Co-CEO and CFO of SYGNIS, added: “This is an excellent acquisition for SYGNIS. C.B.S. is a profitable company, with a very stable and highly complementary customer base. Due to the successful capital increase in July 2016, SYGNIS is able to fund this acquisition with a minimal dilutive impact for our current shareholders. Next to the superb strategic fit, this acquisition also aids our drive to achieve ambitious financial goals.”


For further information, please contact:

SYGNIS AG
Dr. Heikki Lanckriet
Co-CEO/CSO
Phone : +44 1223 873 364
Email: heikki.lanckriet@sygnis.com
Pilar de la Huerta
Co-CEO/CFO
Phone: +34 91 192 36 50
Email: pdelahuerta@sygnis.com

MC Services AG
Raimund Gabriel
Managing Partner
Phone: +49 89 210228 0
Email: raimund.gabriel@mc-services.eu


About SYGNIS AG: www.sygnis.com

SYGNIS AG is specialized in the development and the commercialization of proprietary technologies and offers a wide range of different commercial products addressing key challenges in molecular biology. With the acquisition of Expedeon Holdings, Ltd. based in Cambridge, UK, SYGNIS has added a complementary proteomic product portfolio. Resulting from this significant expansion, SYGNIS’ product portfolio now covers the entire workflow of molecular biology. The products are sold through a direct sales force and several distribution partners in Europe, the US and Asia. SYGNIS AG has offices in Germany, Spain and the UK, production sites in the UK and the US as well as sales offices in Asia. The company is listed on the German Stock Exchange in Frankfurt in the Prime Standard segment (Ticker: LIO1; ISIN: DE000A1RFM03).

### This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of SYGNIS AG may deviate greatly from the established conclusions or implied predictions contained in such statements. SYGNIS does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason.###

Madrid, Spain/Heidelberg, Germany
SYGNIS AG, Waldhofer Str. 104, 69123 Heidelberg, Germany, www.sygnis.de, Tel.: + 49-6221- 3540-125, Fax: +49-6221- 3540-127

   
Record changed: 2017-02-04

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