EVOTEC CONFIRM CLOSING OF TRANSACTION WITH SANOFI TO ACCELERATE INFECTIOUS DISEASE RESEARCH AND DEVELOPMENT
Published: Jul 03, 2018
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) today announced that the strategic transaction signed on 15 June 2018, to integrate Sanofi's infectious disease unit including licensing-in the majority of Sanofi's infectious disease research portfolio, has been successfully closed with effect from 01 July 2018. This closing marks the completion of the required legal social process, initiated on 08 March 2018 and means that all customary approvals and conditions, including those from the French regulatory authorities have been received and met.
The transaction will result in a EUR 60 m upfront cash payment and a guaranteed financial commitment from Sanofi to Evotec for five years. Evotec will accelerate the infectious disease research pipeline development and initiate new open innovation R&D initiatives in anti-infectives. Going forward, Evotec will also engage in collaborations with other pharmaceutical and biotechnology companies, foundations, academia and government agencies to further accelerate research and development into new products in infectious diseases. The initial focus areas will be on antimicrobial resistance ("AMR") and superbug infections, TB and Malaria, as well as on the creation of novel antiviral therapies with new mechanisms of action.
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic to meet the industry's need for innovation and efficiency in drug discovery (EVT Execute). The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuroscience, diabetes and complications of diabetes, pain and inflammation, oncology and infectious diseases. On this basis, Evotec has built a broad and deep pipeline of more than 80 partnered product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term discovery alliances with partners including Bayer, CHDI, Sanofi or UCB and development partnerships with e.g. with Sanofi in the field of diabetes, with Pfizer in the field of tissue fibrosis and Celgene in the field of neurodegenerative diseases. For additional information please go to www.evotec.com and follow us on Twitter @EvotecAG.
FORWARD LOOKING STATEMENTS
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking 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. 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.
Contact Evotec AG:
Gabriele Hansen, VP Corporate Communications & Investor Relations, Phone: +49.(0)40.56081-255, email@example.com