Evotec

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Evotec SE
Aktiengesellschaft
Traded asFWBEVT
IndustryBiotechnology, contract research organization
Founded1993
HeadquartersHamburg, Germany
Key people
Werner Lanthaler (CEO)

Wolfgang Plischke (Chairman of the Supervisory Board)

Manfred Eigen (Cofounder)
Revenue258 million (2017)[1]
Number of employees
2178 (2017)[2]
Websitewww.evotec.com

Evotec SE is a publicly listed drug discovery and development company headquartered in Hamburg, Germany. The company operates globally, largely through external alliances with pharmaceutical and biotechnology companies, academic institutions, patient advocacy groups, and venture capitalists. As of September 2018, Evotec had a market capitalization of €3.29 billion[3] and a pipeline of more than 100 partnered programs in discovery, pre-clinical development and clinical development.[4]

The company's 2,000+ employees work across a number of therapeutic areas including CNS/neurology (e.g. Alzheimer's disease, Huntington's disease), metabolic diseases (e.g. Diabetes), Cancer, and inflammatory and infectious diseases. It has long-term discovery alliances with Celgene,[5] Bayer,[6] Sanofi,[7] Boehringer Ingelheim,[8] the CHDI Foundation,[9] Genentech,[10] Roche,[11] and more.

On October 28, 2009, the company was listed on the TecDAX index, which tracks the performance of the 30 largest German companies from the technology sector.[12] On September 24, 2018, Evotec joined the MDAX index, following a rule change that enabled dual listing.[13] The MDAX tracks 60 Prime Standard shares from sectors excluding technology.[14]

Company formation[edit]

Evotec SE was established as Evotec BioSystems GmbH in 1993 by a group of founders that included Karsten Henco, Ulrich Aldag, Freimut Leidenberger, Heinrich Schulte, Rudolf Rigler, Charles Weissmann and Nobel Laureate Manfred Eigen.[15] Eigen won the 1967 Nobel Prize in Chemistry for his work measuring ultrafast chemical reactions.[16]

Evotec Biosystems went public in 1999, listing on the Frankfurt Stock Exchange under the ticker symbol EVT. The following year, it merged with the British chemical services company Oxford Asymmetry International plc,[17] adopting the new name Evotec OAI.

In 2002, the company was divided into two business divisions; "Discovery and Development Services" and "Tools and Technologies," creating the wholly owned subsidiary Evotec Technologies GmbH. Four years later, this division was sold to Perkin Elmer[18] in a move that, according to Evotec, allowed it to focus its resources towards the discovery and development of new pharmaceutical drugs. The company later rebranded as Evotec AG in 2005, with an aim to "reflect the growing emphasis of proprietary drug development in its business model and have a single "new" name which stands for both parts of its business."[19]

Notable acquisitions[edit]

In 2008, Evotec acquired US-based Renovis in a $152 million stock deal,[20] allowing it to list on the Nasdaq stock exchange. One year later, the company announced it was voluntarily de-listing its American Depositary Receipt to cut costs and concentrate its share trading on the German TecDAX platform.[21]

In 2010, the company acquired DeveloGen AG,[22] a spin-out from the Max Planck Institute for Biophysical Chemistry that was developing novel therapies for metabolic disorders, such as diabetes.

In 2011, Evotec acquired Kinaxo Biotechnologies GmbH,[23] a Munich-based, privately owned biotech company. Kinaxo specialized in chemical proteomics and its application in small molecule drug discovery. That same year, Evotec took control of Compound Focus[24] the compound management arm of the Galapagos group subsidiary Biofocus.

In January 2013, Evotec acquired CCS Cell Culture Service GmbH,[25] a Hamburg-based company that supplied custom cells and cell-based reagents for drug discovery applications.

In May 2014, Evotec acquired Euprotec for $3.15 million,[26] a contract research organization (CRO) with expertise in infectious diseases and respiratory biology.

In December 2016, Evotec completed its acquisition of Cyprotex, a preclinical contract research organization.[27]

In July 2017, Evotec acquired the integrated drug development services provider Aptuit for €256 million.[28]

In recent years, Evotec has made two significant deals with French pharmaceutical company Sanofi. In 2015, Evotec took over Sanofi's small-molecule drug development site in Toulouse, France, bringing approximately 200 Sanofi chemists into its team.[29] In 2018, Evotec acquired Sanofi's infectious disease unit, absorbing an additional 100 Sanofi employees and a majority of its anti-infectives research portfolio, including more than 10 R&D assets.[30] Per the agreement, Evotec will continue to run infectious disease R&D operations in Lyon, France. Evotec's initial focus will be on antimicrobial resistance ("AMR") and superbug infections, tuberculosis, and malaria, as well as the creation of novel antiviral therapies with new mechanisms of action.

In April 2019, Evotec AG announced it had completed its conversion into a company under European law (Societas Europaea, “SE”). It officially adopted the legal name Evotec SE, with its registration in the commercial register of the District Court of Hamburg.[31]

References[edit]

  1. ^ "Evotec reports 57% revenue growth, transition to European company". outsourcing-pharma. Retrieved 5 December 2018.
  2. ^ "How To Take Advantage Of Evotec AG (ETR:EVT) In A Bear Market". simplywall.st. Retrieved 13 December 2018.
  3. ^ "What does Evotec AG's (ETR:EVT) Balance Sheet Tell Us About Its Future?". simplywall.st. Retrieved 13 December 2018.
  4. ^ GmbH, finanzen.net. "Evotec AG (EVT-DE): H1/2018 results reflect strong momentum – Markets Insider".
  5. ^ "Evotec, Celgene Partner on Targeted Protein Degradation for Drug Discovery". GenomeWeb. Retrieved 5 December 2018.
  6. ^ "Bayer and Evotec Extend their Endometriosis Partnership". labiotech.eu. Retrieved 5 December 2018.
  7. ^ "Sanofi, Evotec in major infectious disease R&D transfer and license deal". FierceBiotech. Retrieved 24 November 2018.
  8. ^ "Evotec gets $5.4M from Boehringer Ingelheim in cancer research pact". FierceBiotech. Retrieved 5 December 2018.
  9. ^ "Evotec and CDHI form Huntington Disease alliance". Outsourcing-Pharma. Retrieved 24 November 2018.
  10. ^ "Genentech, Evotec Extend Drug Discovery Alliance". Contract Pharma. Retrieved 13 December 2018.
  11. ^ "Evotec agrees $300M depression deal with Roche". Science Business. Retrieved 13 December 2018.
  12. ^ "Evotec Share". Boerse Frankfurt. Retrieved 13 December 2018.
  13. ^ "Evotec AG listed in MDAX".
  14. ^ "MDAX". Deutsche Boerse. Retrieved 13 December 2018.
  15. ^ Jackle H, Rotte C, & Gruss P (2017) Manfred Eigen: the realization of his vision of Biophysical Chemistry. European biophysics journal Vol. 47, pp. 319-323.
  16. ^ "Manfred Eigen". Max Planck Institute for Biophysical Chemistry. Retrieved 13 December 2018.
  17. ^ "Oxford Asymmetry agrees to German merger worth £316m". Independent.co.uk. 2000-07-31.
  18. ^ "PerkinElmer buys Evotec Technologies". in-PharmaTechnologist. Retrieved 13 November 2018.
  19. ^ "Evotec Ag (EVT:Xetra)". Bloomberg. Retrieved 13 December 2018.
  20. ^ "Evotec Plans Acquisition Of Renovis In $152M Stock Deal". BioWorld.
  21. ^ "Evotec To Voluntarily Delist American Depositary Shares From NASDAQ – Quick Facts". RTTNews. Retrieved 5 December 2018.
  22. ^ "Evotec acquires metabolic diseases specialist DeveloGen for €14M". sciencebusiness.net.
  23. ^ "Evotec Completes Acquisition of Kinaxo Biotechnologies GmbH". Technology Networks. Retrieved 5 December 2018.
  24. ^ "Evotec acquires compound management business". Manufacturing Chemist. Retrieved 5 December 2018.
  25. ^ "Evotec acquires Cell Culture Service for €1.2m in cash". Manufacturing Chemist. Retrieved 5 December 2018.
  26. ^ "Evotec Buys Euprotec for Up to $3.15M". Genetic Engineering & Biotechnology News. 28 May 2014.
  27. ^ "Evotec completes Cyprotex acquisition". Outsourcing-Pharma.
  28. ^ "Aptuit sold for $300 million". Chemical & Engineering News.
  29. ^ "Sanofi to send more researchers to Evotec – March 12, 2018 Issue – Vol. 96 Issue 11". Chemical & Engineering News.
  30. ^ "Sanofi Agrees to Transfer Infectious Disease Unit, 100 Employees to Evotec". Genetic Engineering & Biotechnology News. 18 June 2018.
  31. ^ "Evotec AG completes conversion into Evotec SE". Evotec.com.

External links[edit]