Premium 169%! Amjin's $167 million acquisition of Nuevolution

today, Amjin announced that it would buy Nuevolution, a Danish biotech company, for $167m, a 169 per cent premium to yesterday's closing price. As a result of the acquisition, Amjin will acquire Chemetics, Nuevolution's key drug discovery platform, a deal with other partners, and a product line for early oncology and inflammatory disease research and development.Nuevolution has also gained notion that it has made a name for itself over the past decade by conducting a series of deals with major drugmakers including GSK, Johnson and Johnson, Merck and Novarma. At the same time, Nuevolution uses its drug discovery platform Chemetics to develop target-specific internal product line candidates, including ROR-t, BET and IL-17A, all of which are currently in the preclinical stage. Nuevolution has raised $33m since its inception in 2001, so the $167m offer is a good return for it.Nuevolution's ability to obtain such a high purchase price depends largely on the Chemetics drug discovery platform. Using this platform, small molecules encoded by DNA can be synthesized and their activity against targets can be screened. Amjin believes this approach can help developers quickly remove candidates who have difficulty hitting target targets.as early as 2016, Amjin entered into a multi-goal partnership with Nuevolution, under which Amjin has exercised contractual rights for two cancer projects. The acquisition has been unanimous within the Nuevolution team, and after the acquisition, Amtrane will not change the composition of Nuevolution's management team and key employees.In addition, amSyn announced that it will provide personnel incentives for all Nuevolution full-time employees, specifically, over the next three years, amSe will pay compensation in cash and stock to employees who remain after the transaction ends, which is expected to be as high as $8.5 million.the offer will begin around June 13. (Sina Pharmaceuticals)