Germany's Evotec AG Plans to Hire Scientists and Execs at New U.S. HQ

Published: May 30, 2017

Germany's Evotec Plans to Hire Scientists and Execs at New U.S. HQ May 30, 2017
By Mark Terry, BioSpace.com Breaking News Staff

Germany-based Evotec recently cut the ribbon on its U.S. headquarters in Princeton, NJ.

Evotec describes itself as a “drug discovery alliance and development partnership company focused on rapidly progressive innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists.” Which suggests that its focus is on partnerships and licensing, more than developing products in-house. Over the last 20 years it has more than 250 collaborations. Its therapeutic areas include neuroscience, metabolic diseases, oncology, immunology & inflammation, and anti-infectives.

Evotec has delivered more than 30 preclinical candidates and 20 clinical candidates through partnerships and within its own drug discovery operations.

The company indicates that it chose Princeton, over, for example, Cambridge, Mass., or the San Francisco Bay Area, because it liked the talent pool there. Which is interesting, because that’s usually the reason companies choose Cambridge or San Francisco as well.

Ryan Brady, the company’s executive vice president of business development for North America, told NJBiz, “A lot of downsizing in the pharmaceutical industry has had a negative impact in New Jersey. Which means there’s a lot of very experienced people we can hire and bring on board at Evotec.”

Evotec came to Princeton in 2015, and in the last year had considerably expanded its laboratory and office space to 20,000 square feet. It currently employs 21 scientists at the Princeton location, but has room for a total of 60. The company indicates that it is also looking for sales and general administrative positions, including head of human resources and head of finance for the U.S.

“Princeton is an ideal location for our U.S. headquarters based on its proximity to many of the world’s leading biopharmaceutical and pharma companies and universities, as well as its experienced talent pool that has knowledge and expertise in drug discovery,” company chief executive officer Werner Lanthaler told NJBiz. “Our Princeton location puts us in easy reach of many of our alliance and development partners and gives us the opportunity to cultivate new partnerships in the U.S.”

Evotec’s headquarters are in Hamburg, Germany, but has locations in the U.K., France, and in addition to Princeton, Brandford, Connecticut and Watertown, Massachusetts. It employs more than 1,200 people worldwide.

Most recently, Evotec announced on May 22 that its multi-target endometriosis alliance with Bayer had hit another preclinical milestone. This triggered a milestone payment of 5 million euros to Evotec. The alliance was launched in October 2012. It was designed to develop three clinical candidates within a five-year period. Both Evotec and Bayer contribute drug targets and technology infrastructure, and share early research and preclinical characterization of the potential drugs.

“Our alliance with Bayer goes from strength to strength and we are pleased to report a major step forward for this program as it progresses into preclinical development,” Mario Polywka, Evotec’s chief operating officer, said in a statement. “The joint teams continue to advance the endometriosis portfolio of targets, advancing opportunities to provide effective new treatments for this underestimated serious disease.”

On May 10, the company released its first-quarter financials. Revenues grew to 50.2 million euros, an increase of 34 percent compared to the same period the previous year, when it reported 37.5 million euros. The company credits the increase to base revenues, the contribution from Cyprotex of 6 million euros, and various milestone payments.

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