Euroapi announced on Tuesday evening that it had finalized the acquisition of Germany's Biano, a move designed to strengthen its position in the fast-growing oligonucleotide segment of the pharmaceutical contract manufacturing market (CDMO).

The transaction, which was formalized this summer, is valued at around 10 million euros.

It is planned that Biano will retain its brand name, while becoming a subsidiary of Euroapi.

Biano's customers, whose activities focus on small-scale, early-stage (pre-clinical or phase I), complex and customized projects, are located mainly in Europe and Asia.

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