Selvita announced that it plans to separate into two companies. One company will focus on development of small molecule therapeutics in oncology and the other will provide contract research services. Each company will build upon capabilities that have been integral to the Company since the founding of Selvita in 2007.

Both companies will be publicly listed on the Warsaw Stock Exchange. The oncology therapeutics company will control the current Selvita pipeline of small molecules and its engine for consistent discovery of differentiated compounds in oncology. The research services company will pursue further dynamic organic growth and expand its business model with acquisitions of high value complementary biopharmaceutical service providers.

The research services company will retain the Selvita name and the oncology therapeutics company will be named at a later date. At the time of the split, approximately 170 individuals or full-time equivalent employees are expected to become part of the therapeutics business and the research services company will employ approximately 325 individuals. The transaction is intended to result in maintaining the current shareholding structure of Selvita with both new companies.

For each existing share in Selvita S.A., shareholders will receive one share in the Selvita oncology therapeutics company and one share in the Selvita research services company. The Selvita research services company will retain ownership of shares in precision medicine AI company Ardigen. The Selvita oncology therapeutics company will assume ownership of shares of spin-off company NodThera, which is focused on therapeutics based on inflammasome biology.

The transaction is expected to be completed by the fourth quarter of 2019, subject to approvals by Selvita shareholders and the Polish Financial Supervisory Authority. Subject to corporate approvals the current Selvita CEO Pawel Przewiezlikowski will become CEO of the oncology therapeutics company and the current Selvita Chief Operating Officer Boguslaw Sieczkowski will become CEO of contract research. The supervisory boards for each company will be determined and announced at a later date.