Belgian biopharmaceutical company Oxurion NV (Euronext Brussels:OXUR) announced on Wednesday that it has entered into exclusive negotiations to acquire the business and operating assets of Eclevar, a French contract research organisation (CRO) focused on the medical device industry.

This acquisition would provide Oxurion with a strategic entry into the MedTech CRO market and support its ambition to build a diversified platform covering clinical and regulatory services across the life sciences industry.

Eclevar has established an international footprint across Europe, Japan and China over the past 4.5 years, offering pre-market clinical investigations, post-market clinical follow-up studies, regulatory advisory, global study design and European market access services.

Eclevar Healthtech generated EUR2.9m in revenue for the 14-month financial year ended 31 December 2025, equivalent to approximately EUR2.5m on a normalised 12-month basis, and is targeting approximately EUR3m in FY2027 revenue under its current business plan.

The contemplated transaction would be implemented through a newly incorporated MedTech CRO platform, 68% owned and controlled by Oxurion, which would acquire Eclevar's operating business and assets for nominal consideration of EUR1 and integrate its operating team. The remaining 32% would be held by Eclevar's founder, existing investors, employees and board members, while Oxurion would commit up to EUR250,000 in working capital at closing.

Minority shareholders would receive a put option exercisable between 31 December 2030 and 31 December 2033, with valuation based on EBITDA multiples ranging from 3.0x to 6.5x depending on EBITDA levels.

The parties aim to complete the transaction by 31 December 2026, subject to definitive agreements and customary closing conditions.