With the successful completion of the acquisition of Berlin-based Cyano Biotech GmbH, Simris Alg is now set to accelerate their entry into the high-value biopharma space, with a new inhouse R&D capability and a world-leading library of cyanobacteria. As Cyano is already profitable, we expect this acquisition to add to Simris’ bottom line from the outset. The main objective is to push into novel Antibody Drug Conjugates (ADC) for cancer treatment; we estimate a SEK 0.11-0.15 per share impact on valuation for each platform license deal, in which case it would transform the company and dominate the combined business in a couple of years.
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