German company Evotec has completed the acquisition of Aptuit for a total consideration of approximately $300m to support its long-term strategy to be the industry partner of choice for external drug discovery and development innovation.

Aptuit is a US-based partner research organisation for integrated outsourced drug discovery and development solutions.

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The company offers a complete range of integrated early discovery to mid-phase drug development services.

Evotec has purchased the US company from private equity firm Welsh, Carson, Anderson & Stowe (WCAS).

Under the deal, Aptuit will continue to operate and serve its client base in all currently existing segments under its current set-up.

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"We are pleased the acquisition has closed so quickly and we can now approach the exciting phase of welcoming the Aptuit employees and delivering our expanded offering to all our clients."

However, the company's employees and capabilities will be included into Evotec's global drug discovery group, thereby developing the premier drug discovery and development innovation partner using the extensive partner networks, platforms and maximising commercial synergies of both firms.

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Evotec chief operating officer Dr Mario Polywka said: “We are pleased the acquisition has closed so quickly and we can now approach the exciting phase of welcoming the Aptuit employees and delivering our expanded offering to all our clients.

“Through this transaction, Evotec transforms itself from the premier innovation-led drug discovery company, delivering historically along the value chain and stopping at the PDC, the pre-clinical development candidate, to the premier drug discovery and development company delivering an end-to-end set of capabilities under one roof to seamlessly move into the clinic and beyond.

“Together with Aptuit, we will build global centres of excellence for external innovation for our partners and customers.”