Belgian biopharmaceutical company Oxurion NV (Euronext Brussels:OXUR) announced on Thursday that it has signed a letter of intent to acquire 70% of a preclinical microbiology contract research organisation (CRO), reinforcing its presence in the Toulouse region and diversifying its operational focus.

The target company specialises in infectious diseases for human and animal health, and offers R&D services from target identification through safety and pharmacokinetic evaluations, using BSL2 and BSL3 facilities. It also operates in adjacent markets such as dermocosmetics and nutraceuticals, serving over 140 clients globally with in vitro, ex vivo and 3D modelling platforms.

In 2024, the target company generated EUR1m in revenue with EUR156,000 EBITDA, and it forecasts EUR1.6m in revenue and EUR250,000 EBITDA for 2025. The total transaction values the company at EUR750,000 on a 100% basis.

Oxurion will pay EUR525,000 upfront, with earn-outs of up to EUR2.1m contingent on post-closing EBITDA performance. The transaction is expected to close by October 2025, pending due diligence and legal approvals.

The deal is expected to be dilutive, but Oxurion aims to offset this through value creation and is pursuing non-dilutive financing options.

The company has exclusivity until 30 September 2025, and expects commercial synergies, including expanded services and cross-selling potential.

Oxurion is also in the process of finalising the acquisition of Axiodis CRO, announced in May 2025.