Completion of the Acquisition of Kinesis Pharma BV

RNS Number : 6073C

Venn Life Sciences Holdings PLC

19 October 2015

 

Venn Life Sciences Holdings Plc

("Venn" or the "Company" or the "Group")

Completion of the Acquisition of Kinesis Pharma BV

Venn Life Sciences (AIM: VENN), a growing Clinical Research Organisation providing clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, announces the completion of the acquisition of Kinesis Pharma BV.

The final terms of the initial consideration for the acquisition, following the adjustment mechanism set out in the sale and purchase agreement, are a cash consideration of €1,846,620 and 4,780,320 Consideration Shares representing a value of €1,477,517. 

It is expected that the Consideration Shares will be admitted to trading on AIM on Friday 23 October 2015.

Tony Richardson, Chief Executive Officer of Venn said: "We are pleased that the acquisition of Kinesis Pharma BV has completed as it has established Venn as a highly differentiated European Contract Research Organisation and is in line with Company's strategy. We look forward to offering the complete range of services to our clients allowing us to establish earlier and longer lasting client relationships. We look forward to seeing the benefits of this acquisition in the near future."

Enquiries:

Venn Life Sciences Holdings Plc
David Evans, Non-Executive Chairman		Tel: [phone]
Tony Richardson, Chief Executive Officer		Tel: [phone]
Zeus Capital (Nominated Adviser and Co-Broker)
Andrew Jones/Phil Walker		Tel: [phone]
Dominic Wilson/Alex Davies		Tel: [phone]
Hybridan LLP (Co-Broker) Claire Louise Noyce		Tel: [phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus		Mob: [phone]
Lianne Cawthorne		Mob: [phone]

About Venn Life Sciences:

Venn Life Sciences is a Clinical Research Organisation providing clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device organisations. With dedicated operations in France, Germany, the Netherlands, the UK, Ireland and Europe wide representation - Venn specialises in rapid deployment and management of multisite projects. Venn also has an innovation division - Innovenn - focused primarily on breakthrough development opportunities in Skin Science.

 

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