SIMRIS ALG AQUIRES CYANO BIOTECH IN ACCRETIVE DEAL
Simris Alg AB (publ), today announced the successful completion of its acquisition of Cyano Biotech GmbH, a profitable, privately held Berlin-based biotech company. The transaction is comprised of an initial cash purchase price of €2.0m, an allocation of Simris shares to the value of €240k, and complemented by future performance-based earn-outs capped at a further €8.0m. The immediate financing of the transaction has been secured through a flexible funding facility. Cyano Biotech brings to Simris one of the world’s largest libraries of cyanobacteria, an in-house R&D facility, plus a strong