Hamburg, Germany, and Oxford, UK, 26.04.2006
Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) today announced that the Management Board and Supervisory Board have decided to increase its share capital against a contribution in cash from authorised capital, exempting pre-emptive rights. DZ BANK AG, Frankfurt, as Sole Lead Manager and Sole Bookrunner, will offer a total of 5,228,701 new shares to institutional investors in Europe and the US by means of accelerated book building.
Owing to its successful in-licensing strategy and encouraging results from initial clinical trials, Evotec has developed its clinical pipeline further than anticipated. As a consequence, the Company has more opportunities to enhance the value and expand its CNS programmes internally. Specifically, this includes the broadening of the scope of the trials of its insomnia drug candidate EVT 201 to supplement its commercial differentiation. Also, the Company is exploring further development opportunities and potential Phase II studies previously not planned in Alzheimer's disease and additional indications in its other pipeline projects. The financial proceeds from the offering will increase Evotec's flexibility to develop its projects and to target higher value creation before partnering.
Contact: Evotec AG, Anne Hennecke, Investor Relations, Phone: +49 40 56081 286, Fax: +49 40 56081333, E-mail: email@example.com