Evotec completes acquisition of controlling majority stake in
Research Support International Private
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange: EVT; NASDAQ:EVTC) announced today that the acquisition of the controllingmajority stake of Research Support International Private Limited("RSIPL") has been successfully completed and that RSIPL is a 70%,majority owned subsidiary of Evotec as of August 31, 2009.The purchase price for the 70% controlling majority stake payable,before adjustments, to DIL Limited, India, is EUR 2.8 million incash, a portion of which includes a potential earn-out. Evotec has acall option to purchase the remaining 30% from DIL in the future inthe event of a change of control.RSIPL, located in Thane near Mumbai, was founded in 2004 andcurrently employs approximately 160 employees. The company isproviding Drug Discovery & Development services. RSIPL is a vibrantorganization committed to provide a strong & reliable fundamentalresearch platform to enable its customers to accelerate their drugdiscovery programs efficiently and cost effectively. RSIPL uses itsworld class infrastructure and facilities to synthesis virtually alltypes of organic compounds from milligram to kilogram scale. RSIPLwas conferred the "Partner of Choice in Contract Research - ChemistryBased Services" award for the year 2007 by Frost & Sullivan inrecognition of its experience in offering organic synthesis servicesto pharmaceutical and biotech customers worldwide.Following the transaction, RSIPL will be integrated, into the valuechain of Evotec's operations in Hamburg (Germany), Abingdon (UK) andSingapore. The members of the Management Board of Evotec AG, DrWerner Lanthaler, Dr Mario Polywka and Dr Klaus Maleck, have beenappointed as members of the Board of Directors of Evotec Indiatogether with two representatives from DIL.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 India toEvotec's already world-leading discovery platform and efficientlyincreases its ability to deliver high quality, know-how driven drugdiscovery and development services to its partners on a global scale.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/1338327/319258.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: 31.08.2009 - 15:01 Uhr
Sprache: Deutsch
News-ID 5281
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