18.06.2018
Evotec AG DE0005664809
DGAP-News: EVOTEC AND SANOFI SIGN DEFINITIVE AGREEMENT TO COMBAT INFECTIOUS DISEASES
DGAP-News: Evotec AG / Key word(s): Miscellaneous
EVOTEC AND SANOFI SIGN DEFINITIVE AGREEMENT TO COMBAT INFECTIOUS DISEASES
18.06.2018 / 07:00
The issuer is solely responsible for the content of this announcement.
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* ACCELERATION OF RESEARCH AND DEVELOPMENT ("R&D") OF NOVEL
ANTI-INFECTIVES
* 100 EMPLOYEES WILL JOIN EVOTEC
* SANOFI WILL LICENSE MORE THAN 10 INFECTIOUS DISEASE ("ID") R&D ASSETS
* SANOFI TO PROVIDE SIGNIFICANT SUPPORT TO EVOTEC INCLUDING A ONE-TIME,
UPFRONT PAYMENT OF EUR 60 M TO SUPPORT PROGRESSION OF A NEXT GENERATION
ANTI-INFECTIVES PORTFOLIO
Hamburg, Germany, 18 June 2018: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX, ISIN: DE0005664809) today announced having signed a transaction
agreement with Sanofi to integrate Sanofi's infectious disease unit into its
organisation. Pursuant to this agreement, Evotec will also licence-in the
majority of Sanofi's infectious disease research portfolio and initiatives.
This successfully seals the exclusive negotiations between the two companies
and completion of the required legal social process, initiated on 08 March
2018. The transaction will be closed in the coming weeks and remains subject
to customary approvals and conditions, including the approval by regulatory
authorities in France.
Evotec will accelerate the infectious disease research pipeline development
and initiate new open innovation R&D initiatives in anti-infectives. Going
forward, Evotec will engage in open collaborations with other pharmaceutical
and biotechnology companies, foundations, academia and government agencies
to further accelerate research in infectious diseases. The initial focus
areas 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.
Dr Werner Lanthaler, Chief Executive Officer of Evotec, said: "With the
signing of this transaction, Evotec will have created the highest qualified
translational footprint in infectious disease research globally with approx.
180 scientists. We warmly welcome the Sanofi employees to Evotec and look
forward to working with them on this very important mission. Together we are
well-positioned to become the global drug discovery and development partner
of choice in this important therapeutic category. We invite more companies,
academic institutions, governments and foundations from around the world to
help us advance new novel anti-infectives toward the market."
As part of the transaction, Sanofi will pay EUR 60 m upfront and will
provide Evotec with additional, significant long-term funding to ensure the
progression of the highly innovative anti-infectives portfolio. Sanofi will
retain certain option rights on the development, manufacturing and
commercialisation of the anti-infective products resulting from the licensed
assets. As part of the transaction, Evotec will add and integrate 100 highly
qualified employees into its global drug discovery and development
operations. The positions from Sanofi will be transferred with certain,
specific long-term commitments of employment. Evotec will continue to
operate in Lyon, taking advantage of the location's scientific and medical
excellence in infectious diseases.
The transaction will result in increased operating income as well as
increased R&D expenditure and will be slightly accretive to Evotec's EBITDA
for the next five years.
ABOUT INFECTIOUS DISEASES
Infectious diseases are caused by bacteria, viruses, fungi or parasites and
can be spread, directly or indirectly, from one person to another.
Treatments for infectious diseases include antibiotics and anti-viral
medications. Today, infectious diseases propagated by bacteria are becoming
increasingly resistant to many antibiotics and any use of antibiotics
reduces the effectiveness of these drugs for other patients. The World
Health Organization ("WHO") has deemed antibiotic resistance to be one of
the three greatest threats to human health today. Almost a million people
die of resistant infections a year. It is also estimated that by 2050, 10
million lives a year and a cumulative 100 trillion dollars of economic
output are at risk due to the rise of drug resistant infections, if
solutions to this problem are not identified now. Thus, there is a critical
need to research and develop medical solutions to combat antibiotic
resistant bacteria.
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 protected]
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18.06.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Evotec AG
Manfred Eigen Campus / Essener Bogen 7
22419 Hamburg
Germany
Phone: +49 (0)40 560 81-0
Fax: +49 (0)40 560 81-222
E-mail: [email protected]
Internet: www.evotec.com
ISIN: DE0005664809
WKN: 566480
Indices: TecDAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard);
Regulated Unofficial Market in Dusseldorf, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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