Evotec Accelerates Growth Strategy of its Discovery Alliance Business
with Acquisition of Indian RSI
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ o Evotec acquires 70% controlling majority stake of ResearchSupport International Private Limited ('RSIPL'), India, for EUR 2.8million in casho Expansion of capacity accelerates Evotec's strategy tobecome the global, premier provider of drug discovery and earlydevelopment allianceso Evotec maintains liquidity guidance of more than EUR 65million by year-end 2009Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange: EVT; NASDAQ:EVTC) and DIL Limited, India, announced today the signing of adefinitive agreement to acquire a 70% controlling majority stake ofthe drug discovery service company RSIPL for EUR 2.8 million in cash,a portion of which includes a potential earn-out.This transaction represents an important capacity expansion forEvotec. It adds a complementary drug discovery operation andcapability in the field of science-driven chemistry work in acost-effective location to Evotec's already world-leading discoveryplatform and efficiently increases its ability to deliver highquality, know-how driven drug discovery and development services toits partners on a global scale."It is important to strengthen the strategic position of Evotec'sDiscovery Alliance Business with the best technology offering and themost efficient global reach and cost strategy. This is a veryimportant step in our strategy "Evotec 2012 - Action Plan to Focusand Grow", said Werner Lanthaler, CEO of Evotec. "With this acquisition we reinforce our strategic commitment todeliver the highest value, know-how driven services and build thestrongest innovation alliances with our customers. Evotec continuesto accelerate its strong track record in Innovation and ProcessExcellence with the best scientists in the industry," commented MarioPolywka, COO of Evotec."We are happy to undertake this strategic partnership with Evotec inthe development of RSIPL and believe in the growth strategy of theDiscovery Alliance Business of Evotec. The partnership with Evotecwould lend substantially to the growth of RSIPL and we look forwardto a successful association with them", commented Krishna Datla,Managing Director of DIL.RSIPL, located in Thane near Mumbai, was founded in 2004 andcurrently employs approximately 160 employees. The company is a 100%subsidiary of DIL, a publicly listed company on the Bombay StockExchange. Following the transaction, RSIPL will be integrated, asEvotec India, into the value chain of Evotec's operations in Hamburg(Germany) and Abingdon (UK). The deal is expected to close latest inearly September, 2009. Evotec has a call option to purchase theremaining 30% from DIL in the future in the event of achange-of-control.Despite this and the recent acquisition of the zebrafish technologyplatform, Evotec maintains it guidance to have more than EUR 65million in liquid funds available by the end of 2009.About RSIPLIncorporated in 2004, Research Support International Private Limited('RSIPL') is a 100% subsidiary of DIL Ltd (formerly Duphar-InterfranLtd.) providing Drug Discovery & Development services. RSIPL is avibrant organization committed to provide a strong & reliablefundamental research platform to enable its customers to acceleratetheir drug discovery programs efficiently and cost effectively.RSIPL's uses its world class Infrastructure and Facilities tosynthesis virtually all types of organic compounds from milligram tokilogram scale.RSIPL was conferred the "Partner of Choice in Contract Research -Chemistry Based Services" award for the year 2007 by Frost & Sullivanin recognition of its experience in offering a organic synthesisservices to pharmaceutical and biotech customers worldwide.About DILFounded in 1951, DIL has built successful partnerships with globalplayers in the Life Sciences Industry.Apart from RSIPL, DIL's ventures in the Pharmaceutical Industryinclude commercial scale manufacturing and marketing of bulk drugs,intermediates, formulations & enzymes. DIL also engages inproprietary Research & Development of its own molecules, formulation,enzyme and enzyme application.Contact: Dr Werner Lanthaler, Chief Executive Officer,Evotec AG, Tel.: +49.(0)40.56081-242, werner.lanthaler(at)evotec.comForward-looking statementsInformation set forth in this press release contains forward-lookingstatements, which involve a number of risks and uncertainties. Suchforward-looking statements include, but are not limited to,statements about our expectations and assumptions concerningregulatory, clinical and business strategies, the progress of ourclinical development programs and timing of the results of ourclinical trials, strategic collaborations and management's plans,objectives and strategies. These statements are neither promises norguarantees, but are subject to a variety of risks and uncertainties,many of which are beyond our control, and which could cause actualresults to differ materially from those contemplated in theseforward-looking statements. In particular, the risks anduncertainties include, among other things: risks that the Company maybe unable to reduce its cash burn through recent restructuring andcost containment measures and may not recognize the results of suchmeasures within the expected timeframe; risks that product candidatesmay fail in the clinic or may not be successfully marketed ormanufactured; the risk that we will not achieve the anticipatedbenefits of our collaborations, partnerships and acquisitions in thetimeframes expected, or at all; risks relating to our ability toadvance the development of product candidates currently in thepipeline or in clinical trials; our inability to further identify,develop and achieve commercial success for new products andtechnologies; the risk that competing products may be moresuccessful; our inability to interest potential partners in ourtechnologies and products; our inability to achieve commercialsuccess for our products and technologies; our inability to protectour intellectual property and the cost of enforcing or defending ourintellectual property rights; our failure to comply with regulationsrelating to our products and product candidates, including FDArequirements; the risk that the FDA may interpret the results of ourstudies differently than we have; the risk that clinical trials maynot result in marketable products; the risk that we may be unable tosuccessfully secure regulatory approval of and market our drugcandidates; and risks of new, changing and competitive technologiesand regulations in the U.S. and internationally.The list of risks above is not exhaustive. Our most recent AnnualReport on Form 20-F, filed with the Securities and ExchangeCommission, and other documents filed with, or furnished to theSecurities and Exchange Commission, contain additional factors thatcould impact our businesses and financial performance. We expresslydisclaim any obligation or undertaking to release publicly anyupdates or revisions to any such statements to reflect any change inour expectations or any change in events, conditions or circumstanceson which any such statement is based.http://hugin.info/131215/R/1333048/315858.pdf --- End of Message ---Evotec AGSchnackenburgallee 114 Hamburg GermanyWKN: 566480; ISIN: DE0005664809 ; Index: Prime All Share, CDAX, HDAX, MIDCAP, TECH All Share;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Börse Berlin, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Niedersächsische Börse zu Hannover, Regulierter Markt in Frankfurter Wertpapierbörse;
Datum: 06.08.2009 - 12:27 Uhr
Sprache: Deutsch
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