Sygnis AG successfully raises EUR 10 million of equity and acquires Innova with support of Heuking Kühn Lüer Wojtek
Sygnis AG acquires British Innova Biosciences Ltd. For this purpose Sygnis AG successfully placed EUR 10 million through capital increases. A team led by partner Dr. Thorsten Kuthe of the law firm of Heuking Kühn Lüer Wojtek advises Sygnis AG on the transaction.
The transaction which was a significant success for Sygnis comprised in total 5 capital measures. In addition to the cash purchase price of EUR 8 million the Innova shareholders will receive 2 million Sygnis shares as compensation. Depending on the financial results, another 1.5 million shares will become due in the next two years after the transaction and are to be issued in the context of a mandatory convertible bond.
Cambridge-based Innova Biosciences Ltd. specializes in bioconjugation. The company develops, manufactures, and distributes labeling reagents worldwide.
The team led by Dr. Thorsten Kuthe legally advised Sygnis most recently on the acquisition of C.B.S. Scientific Company Inc., a provider of life science instruments, and on the acquisition of British protenomics company Expedeon Holding Ltd.
Counsel to Sygnis AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Stefan Westerheide, LL.M. oec,
Meike Dresler-Lenz (all Capital Markets / M&A), all Cologne