CyBio to be Merged into Analytik Jena
News Apr 11, 2014
Against this backdrop, CyBio AG will be merged into Analytik Jena AG during the current financial year. A corresponding merger by absorption agreement was signed this past Friday.
As part of the merger by absorption, Analytik Jena AG plans to acquire all the remaining shares of CyBio AG by means of a method to squeeze out minority shareholders (known as a squeeze-out merger). The shareholders of CyBio AG are to draft a resolution to transfer the shares of the minority shareholders to Analytik Jena AG as the majority shareholder in return for payment of compensation in cash at the Company's General Meeting on May 22, 2014. Analytik Jena AG currently holds 91.9% of the voting rights of CyBio AG.
The business activities of the CyBio Group are to be continued after the merger becomes effective and to be expanded in the coming years. CyBio products and services will continue to be marketed as an independent CyBio product line under the CyBio brand by Analytik Jena AG. CyBio AG currently employs 98 staff members around the world and is fully consolidated in the Analytik Jena Group. Analytik Jena AG already acquired the majority of the shares of CyBio AG in 2009.
"With the strategic and operational realignment of CyBio AG, we have consistently driven business in a customer-oriented way in the areas of liquid handling and laboratory automation technology in the past five years as part of the Analytik Jena Group. CyBio AG has become an integral and successful part of the Analytik Jena AG family," said Klaus Berka, Chief Executive Officer of Analytik Jena AG. "The planned merger and structural integration is the logical continuation of this path with the aim of bundling our competencies in the Group portfolio and thus providing access for our customers to an even more comprehensive range."
As genome editing technologies advance toward clinical therapies, they are raising hopes of a completely new way to treat disease. However, challenges need to be addressed before potential treatments can be widely used in patients. To tackle these challenges, the National Institutes of Health has launched the Somatic Cell Genome Editing program, which has awarded multiple grants including more than $3.6 million to assess the safety of genome editing in human cells and tissues.