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In line with their strategic plan to move into the highest margin application areas, Simris Alg announced an LOI to acquire Cyano Biotech GmbH which would accelerate entry into the BioPharma space. After a production pause to upgrade the facility in Q2’22, Simris expects a pick-up in both biomass and supplements sales in 2023. The additional synergies following a successful merger with Cyano offers both cost savings and new revenue opportunities for BioPharma and ADCs, where each single license deal could add USD 2.1-2.7m to valuation, thereby dominating the business in the long-term.
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