Newcastle-based Alcyomics grew revenue by 46% to approximately SEK 19.5 million in its financial year ending February 2026, with an EBITDA margin of about 24%. Its Skimune platform combines human skin tissue and immune cells to identify immune-related adverse effects in the preclinical phase. Its customers include several multinational pharmaceutical companies in Europe, the US and Japan.

On top of the initial price, SenzaGen may pay two earn-outs. The first, of up to approximately SEK 11 million, is tied to milestones. The second, of up to approximately SEK 14 million, is tied to a reduction in Alcyomics’ net debt. The deal is financed with existing cash and SEK 25 million in convertible bonds issued to SenzaGen’s principal owner, Eiffel Investment Group. Completion is expected around November 4.

SenzaGen says the two companies had combined pro forma revenue of approximately SEK 40 million in the first half of 2026, with positive EBITDA.

“Through the acquisition of Alcyomics, we are entering a new, exciting and expanding segment of drug development, where the shift toward non-animal methods is accelerating,” says Peter Nählstedt, President and CEO of SenzaGen.

Source: SenzaGen press release, 28 October 2026 — read the release