 |
|
 |
 |
|
Evotec Accelerates Growth Strategy of its Discovery Alliance Business
with Acquisition of Indian RSIPL |
|
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 Research
Support International Private Limited ('RSIPL'), India, for EUR 2.8
million in cash
o Expansion of capacity accelerates Evotec's strategy to
become the global, premier provider of drug discovery and early
development alliances
o Evotec maintains liquidity guidance of more than EUR 65
million by year-end 2009
Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange: EVT; NASDAQ:
EVTC) and DIL Limited, India, announced today the signing of a
definitive agreement to acquire a 70% controlling majority stake of
the 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 for
Evotec. It adds a complementary drug discovery operation and
capability in the field of science-driven chemistry work in a
cost-effective location to Evotec's already world-leading discovery
platform and efficiently increases its ability to deliver high
quality, know-how driven drug discovery and development services to
its partners on a global scale.
"It is important to strengthen the strategic position of Evotec's
Discovery Alliance Business with the best technology offering and the
most efficient global reach and cost strategy. This is a very
important step in our strategy "Evotec 2012 - Action Plan to Focus
and Grow", said Werner Lanthaler, CEO of Evotec.
"With this acquisition we reinforce our strategic commitment to
deliver the highest value, know-how driven services and build the
strongest innovation alliances with our customers. Evotec continues
to accelerate its strong track record in Innovation and Process
Excellence with the best scientists in the industry," commented Mario
Polywka, COO of Evotec.
"We are happy to undertake this strategic partnership with Evotec in
the development of RSIPL and believe in the growth strategy of the
Discovery Alliance Business of Evotec. The partnership with Evotec
would lend substantially to the growth of RSIPL and we look forward
to a successful association with them", commented Krishna Datla,
Managing Director of DIL.
RSIPL, located in Thane near Mumbai, was founded in 2004 and
currently employs approximately 160 employees. The company is a 100%
subsidiary of DIL, a publicly listed company on the Bombay Stock
Exchange. Following the transaction, RSIPL will be integrated, as
Evotec India, into the value chain of Evotec's operations in Hamburg
(Germany) and Abingdon (UK). The deal is expected to close latest in
early September, 2009. Evotec has a call option to purchase the
remaining 30% from DIL in the future in the event of a
change-of-control.
Despite this and the recent acquisition of the zebrafish technology
platform, Evotec maintains it guidance to have more than EUR 65
million in liquid funds available by the end of 2009.
About RSIPL
Incorporated in 2004, Research Support International Private Limited
('RSIPL') is a 100% subsidiary of DIL Ltd (formerly Duphar-Interfran
Ltd.) providing Drug Discovery & Development services. RSIPL is a
vibrant organization committed to provide a strong & reliable
fundamental research platform to enable its customers to accelerate
their drug discovery programs efficiently and cost effectively.
RSIPL's uses its world class Infrastructure and Facilities to
synthesis virtually all types of organic compounds from milligram to
kilogram scale.
RSIPL was conferred the "Partner of Choice in Contract Research -
Chemistry Based Services" award for the year 2007 by Frost & Sullivan
in recognition of its experience in offering a organic synthesis
services to pharmaceutical and biotech customers worldwide.
About DIL
Founded in 1951, DIL has built successful partnerships with global
players in the Life Sciences Industry.
Apart from RSIPL, DIL's ventures in the Pharmaceutical Industry
include commercial scale manufacturing and marketing of bulk drugs,
intermediates, formulations & enzymes. DIL also engages in
proprietary 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@evotec.com
Forward-looking statements
Information set forth in this press release contains forward-looking
statements, which involve a number of risks and uncertainties. Such
forward-looking statements include, but are not limited to,
statements about our expectations and assumptions concerning
regulatory, clinical and business strategies, the progress of our
clinical development programs and timing of the results of our
clinical trials, strategic collaborations and management's plans,
objectives and strategies. These statements are neither promises nor
guarantees, but are subject to a variety of risks and uncertainties,
many of which are beyond our control, and which could cause actual
results to differ materially from those contemplated in these
forward-looking statements. In particular, the risks and
uncertainties include, among other things: risks that the Company may
be unable to reduce its cash burn through recent restructuring and
cost containment measures and may not recognize the results of such
measures within the expected timeframe; risks that product candidates
may fail in the clinic or may not be successfully marketed or
manufactured; the risk that we will not achieve the anticipated
benefits of our collaborations, partnerships and acquisitions in the
timeframes expected, or at all; risks relating to our ability to
advance the development of product candidates currently in the
pipeline or in clinical trials; our inability to further identify,
develop and achieve commercial success for new products and
technologies; the risk that competing products may be more
successful; our inability to interest potential partners in our
technologies and products; our inability to achieve commercial
success for our products and technologies; our inability to protect
our intellectual property and the cost of enforcing or defending our
intellectual property rights; our failure to comply with regulations
relating to our products and product candidates, including FDA
requirements; the risk that the FDA may interpret the results of our
studies differently than we have; the risk that clinical trials may
not result in marketable products; the risk that we may be unable to
successfully secure regulatory approval of and market our drug
candidates; and risks of new, changing and competitive technologies
and regulations in the U.S. and internationally.
The list of risks above is not exhaustive. Our most recent Annual
Report on Form 20-F, filed with the Securities and Exchange
Commission, and other documents filed with, or furnished to the
Securities and Exchange Commission, contain additional factors that
could impact our businesses and financial performance. We expressly
disclaim any obligation or undertaking to release publicly any
updates or revisions to any such statements to reflect any change in
our expectations or any change in events, conditions or circumstances
on which any such statement is based.
--- End of Message ---
Evotec AG
Schnackenburgallee 114 Hamburg Germany
WKN: 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; Copyright © Hugin AS 2009. All rights reserved.
|
|
|
|
| |
 |
durchschnittliche Punktzahl: 0 Stimmen: 0
| |
 |
|
|
 |  |