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Recipharm closes OnTarget Chemistry deal
September 2015
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JORDBRO, Sweden—Recipharm has completed its acquisition of OnTarget Chemistry, an Uppsala, Sweden-based contract research organization that offers medicinal chemistry services. OnTarget Chemistry saw a turnover of nearly SEK 29 million (approximately $3.4 million) last year, and the acquisition is expected to be accretive to Recipharm's earnings per share from 2016. Recipharm will pay SEK 15.1 million (approximately $1.7 million) for OnTarget Chemistry, 50 percent of which will be paid in cash, with the other 50 percent to be paid through an issue in kind of 45,838 series B shares in Recipharm.
 
“The fit with Recipharm’s development organization is very good for us. We believe we can add preclinical competence and capabilities to Recipharm, and we also look forward to contributing with a broad range of both local and international customers. This will be a great opportunity for us to continue to grow our business within Recipharm,” said OnTarget Chemistry CEO Fredrik Lehmann.

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