Simris Alg AB (publ) (OM:SIMRIS B) entered into a binding Letter Of Intent to acquire 100% of the shares in Cyano Biotech GmbH on June 12, 2022. The purchase price will include a combination of cash payments, Simris shares and performance related payments. The deal is subject to customary due diligence which is also due complete at a similar time and is due to complete by end of August. As of May 5, 2023, Simris confirms extension to due date for payment of second instalment for acquisition of Cyano Biotech. BOD has approved offer from former owners of Cyano Biotech to extend the due date. Due date extended from August 25 to October 2 with an interest fee of 1% per month.

Simris Alg AB (publ) (OM:SIMRIS B) acquired 100% of the shares in Cyano Biotech GmbH on August 25, 2022. Cyano Biotech was renamed Simris Biologics in February, 2023.