Selvita scales its operations with the construction of new research space

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Jul 12, 2021, 13:19 ET

KRAKOW, Poland, July 12, 2021 /PRNewswire/ -- Selvita (WSE: SLV) - one of the largest preclinical contract research organizations in Europe, announced today the initiation of the construction of its own research centre in Krakow. The Company signed an agreement with the General Contractor – PORR S.A., which will be responsible for the execution of the investment.

The new facility will add much needed research capacity and allow for scale-up of business operations as well as expansion of services offer.

The total net value of contract amounts to EUR 19.1 million. The completion of the construction is expected at the turn of 2022/23. Selvita Research Centre will be created in the neighborhood of the current company HQ. At the heart of the new Selvita facility will be an array of laboratories incl. medicinal chemistry, biochemistry, cell & molecular biology, ADME/DMPK, in vivo pharmacology and analytical chemistry. The new facility will have a potential to accommodate approximately 250 employees.

Creation of the own laboratory-office complex is one of the key elements of Selvita's Development Strategy for 2020 – 2023 which assumes further organic growth supported with acquisitions. Selvita has secured financing for the investment, including a EUR 9.3 million grant and a EUR 14.3 million bank loan.

"Our goal is to continuously grow and strengthen our position on the global CRO market. Expansion of our laboratory infrastructure and scope of services will bring us closer to achieving it. This is the reason why we decided to invest in our own research facility. The mixed operational model including both rented and proprietary research space, is a standard among reputable global CROs, as it increases the reliability of a partner," comments Dariusz Kurdas, Chief Financial Officer at Selvita.

"Execution of this investment will allow us not only to increase the scale of operations and extend our offer but also to gain a competitive edge through introduction of new technologies and services in the area of drug discovery and development into our offer," adds Kurdas.

Selvita currently operates in several locations, with 6,000 m² of research facilities located in Krakow and Poznan, Poland, as well as 6,000 m² in Zagreb, Croatia, following the acquisition of Fidelta. The construction of the new building will give Selvita access to an additional 10,000 m² of space, including approximately 4,000 m²of laboratory-office space.

About Selvita [SLV]

Selvita is a preclinical Contract Research Organization providing multidisciplinary support in resolving the unique challenges of research within area of drug discovery, regulatory studies, as well as research and development.

Selvita is also a major shareholder in Ardigen – a bioinformatics company harnessing advanced Artificial Intelligence methods for novel precision medicine.

In January 2021, Selvita acquired 100% of shares in Fidelta d.o.o., substantially expanding its scope of drug discovery services in infectious diseases, inflammation, and fibrosis and building a competitive advantage in areas such as DMPK, in vivo pharmacology, and toxicology.

Selvita was established in 2007 and currently employs almost 800 professionals, of which over 40% hold a Ph.D. title. Selvita is headquartered in Krakow, Poland, with a second research site in Poznan, Poland, while Fidelta is located in Zagreb, Croatia. Selvita's international offices are located in Cambridge, MA, and San Francisco Bay Area, in the U.S., as well as in Cambridge, UK.

Selvita is listed on the Warsaw Stock Exchange (WSE: SLV). For more information, please see www.selvita.com.

SOURCE Selvita