The deal, EuroAPI said, is valued at approximately €10 million, including the acquisition price (upfront payment and deferred consideration) and CAPEX aimed to increase Biano’s capacity to address larger scale and more complex projects. The closing of the transaction is expected in the fourth quarter of 2023, subject to customary conditions.

Founded in 2017, Biano is focused on small-scale, early-stage (pre-clinical to Phase 1), complex and customized projects, with a diversified client base in Europe and Asia. The company is located in Gera, Germany.

According to EuroAPI, the planned expansion of its Frankfurt, Germany oligonucleotide capacity in 2025 will be complementary to Biano’s early-phase expertise and enable larger-scale projects offering.

“The acquisition of Biano builds on EuroAPI’s strategy to accelerate its CDMO roadmap through vertical integration and strengthen its highly differentiated platforms, notably oligonucleotide activity. By coupling Biano’s expertise and capacity in early-stage projects with EuroAPI’s larger scale capabilities, we aim to support our clients along the drug development pathway as a one-stop shop,” said Karl Rotthier, CEO of EuroAPI.

“I am thrilled to get the opportunity to continue to expand Biano’s capabilities in order to grow with our customers and provide material for later clinical phases," said Tobias Pöhlmann, who founded Biano together with Rolf Günther. "Biano has a track record of hands-on support on innovative oligonucleotide developments, complex chemistries and conjugation of peptides and lipids."