Evotec, a Germany-listed chemicals company, has agreed to buy Kinaxo Biotechnologies, a local drug discovery company backed by High-Tech Gründerfonds, a €272m ($370m) state-backed fund supported by industrial groups BASF, Deutsche Telekom, Siemens, Robert Bosch, Daimler and Carl Zeiss. Evotec is paying €3m in cash and 2.6 million of its shares (worth €3.09 each at…
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