Sygnis (LIO1)

Business description

Sygnis develops polymerases for the amplification and sequencing of DNA. It launched a directly sold via web range of products in 2015, with more products due in 2016. It also uses distributors. Sygnis plans to acquire Expedeon, a proteomics business with direct sales capability.

Bigger, stronger, faster

QuickView | Pharmaceutical & healthcare | 09/11/2016

Following the acquisition of Expedeon, Sygnis expects to achieve profitability in 2017 if sales grow to about €7m; management is focused on achieving sales synergies and controlling costs. The acquisition was funded by issuing 20.54m shares at €1.10 each including a cash fundraising of €5.3m gross. Sygnis produces innovative molecular biology kits, while Expedeon makes well-designed products for protein analysis. Expedeon has a UK- and US-focused, 13-person sales and marketing team and a five-year sales CAGR of about 20%. Integration and sales training will take most of 2016. Guidance on sales is expected in November 2016.

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