Innova Partnerships Exits Portfolio Company: Innova Biosciences Acquired by SYGNIS AG
Jun 21, 2017
Innova Partnerships' portfolio company, Innova Biosciences Ltd, has been acquired successfully by German listed company SYGNIS AG [LIO1.DE].
Innova Partnerships founder and CEO, Professor Steve Howell commented;
“The acquisition of Innova Biosciences by SYGNIS AG proves our model in supporting and building value in companies to generate significant shareholder returns. We look forward to continued success with our growing portfolio.”
Innova Partnerships was set up in 2006 to support and build value in Innova Biosciences Ltd. Since then, Innova Partnerships has gone on to build a portfolio of companies that benefit from an innovative approach to growth. These include companies such as King’s College London’s spin out dental business, Reminova Ltd, and Edinburgh based digital health company, RelayMed.
Dr. Nick Gee, CEO and CSO of Innova Biosciences, added;
“I have been delighted by the support which Prof Steve Howell and Innova Partnerships have delivered. Early on they provided financial investment; they then went on to identify key senior management and latterly played an important part in aiding with the exit negotiations and achieving a successful outcome for shareholders.”
On the details of the acquisition, Pilar de la Huerta, Co-CEO and CBDO of SYGNIS, commented;
“Innova [Biosciences] is a profitable company with one third of its revenues coming from the US and UK markets, respectively. Innova’s [Biosciences] strong marketing capabilities and topnotch management complement SYGNIS’ existing capabilities and will help us to deliver on our international commercialisation strategy, driving revenues and enhancing profitability. We expect our joint pro-forma revenues for 2017 to exceed EUR 10 million, with strong upside potential in 2018.”
The acquisition of Innova Biosciences is Innova Partnerships’ second exit from its investment portfolio.
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