Sygnis AG’s Acquisition of Innova and €10 Million Capital Increase


Sygnis AG acquires British Innova Biosciences Ltd. For this purpose Sygnis AG successfully placed EUR 10 million through capital increases.

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.

Heuking Kühn Lüer Wojtek advised Sygnis AG with a team including Thorsten Kuthe (Picture), Madeleine Zipperle, Stefan Westerheide and Meike Dresler-Lenz (all Capital Markets / M&A).

Involved fees earner: Thorsten Kuthe – Heuking Kühn Lüer Wojtek; Madeleine Zipperle – Heuking Kühn Lüer Wojtek; Stefan Westerheide – Heuking Kühn Lüer Wojtek; Meike Dresler-Lenz – Heuking Kühn Lüer Wojtek;

Law Firms: Heuking Kühn Lüer Wojtek;

Clients: Sygnis AG;