Xlife Sciences – the Switzerland-based company engaged in researching, developing and commercialising therapeutics and medicines for the treatment of diseases – has acquired a 50% stake in palleos healthcare GmbH, a Germany-based clinical research organization that provides of drug development and sponsorship services in all study phases, for a consideration of EUR 5.21m.
The consideration EUR 4m paid in cash and equity consideration of EUR 1.21m pid via issuance of 40,000 shares of Xlife Sciences. Xlife Sciences will pay an additional amount on closing date. The transaction values equity of palleos at EUR 10.4m.
Xlife Sciences AG‘s Chief Executive Officer Oliver Baumann and Chief Financial Officer Beat Klaui acted in this transaction. The company has also been advised for legal aspects by Bette Westenberger Brink.