Selvita: will invest millions of PLN into development and acquisitions
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The company’s new strategy for 2020-2023 assumes a three-fold increase in revenues. This will be achieved through acquisitions and organic growth. Boguslaw Sieczkowski, President of Selvita, emphasises that the Laboratory Services Centre will be built in Krakow on his own plot.
New strategy and planned acquisitions
In the years 2020-2023, Selvita intends to allocate PLN 350m to investments in development. According to Bogusław Sieczkowski, Selvita’s President, the first effects of these investments will be visible later this year. A large part of the funds will be used for acquisitions. It will be about PLN 150-200m. Currently, the company is conducting talks on the transaction, which is to be finalised in 2020. The details are not yet known. As a result of all the investments planned for 2020-2023, the company’s market value is to increase to over PLN 1bn.
It is worth noting that the coronavirus pandemic caused an increase in interest in biotechnological companies by public institutions and private investors due to the initiated work on diagnostic tests, drugs and vaccines for COVID-19, according to the Polish Economic Institute (PIE).
Selvita’s organic growth
Selvita also plans to expand its research space from 4,500 to 10,000 sqm over the next three years, of which 4,000 sqm is the construction of the Laboratory Services Centre in Krakow. A preliminary agreement has already been signed. It is initially expected that the center will be ready for use by the end of 2022. The cost of its construction is estimated at about PLN 135m. The funds for this investment are to come from own resources, debt financing, as well as the company will seek public grants. It is worth noting that so far Selvita has used mainly leased space, e.g. in Krakow in the Jagiellonian Centre of Innovation and in Poznan in the Wielkopolska Centre of Advanced Technologies.
Furthermore, between 2020 and 2023 an increase in employment of 40% is planned. The company also plans to create a phenotypic research platform based on high-content screening technology using artificial intelligence. For this purpose Selvita has received funding from the National Centre for Research and Development. Moreover, the company intends to become active in the field of in vivo research.
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