Evotec has bought University of Modena and Reggio Emilia spinout Rigenerand for $24.7m.

Rigenerand, an Italy-based cell technology spinout of University of Modena and Reggio Emilia, agreed to an acquisition by life sciences company Evotec yesterday for €23m ($24.7m). Rigenerand operates a current good manufacturing practice facility that specialises in complex cell-based therapies. Although Evotec does not expect to see a large financial impact from the acquisition in the short term, it expects Rigenerand’s expertise will allow it to win integrated partnerships within the cell therapy field. Rigenerand had raised $10m in equity funding from venture capital firm Principia in May 2016.

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).