Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange: EVT; NASDAQ: EVTC) announced today that at its July 9, 2008 meeting the
Supervisory Board of Evotec AG decided to propose the election of
Dr Flemming Ornskov to the Supervisory Board at the next Annual General Meeting on August 28, 2008 with the intent to elect him Chairman of the Supervisory Board. Prof Dr Heinz Riesenhuber who served as member of Evotec's Supervisory Board since 1994 and as its Chairman since 1997 will become Honorary Chairman of the Supervisory Board.
Dr Flemming Ornskov, 50, is a well known expert in the pharmaceutical industry. As Corporate Vice President and Global President, Pharmaceuticals, at Bausch & Lomb, he is responsible for the company's prescription and generic pharmaceuticals, as well as its general eye health and vitamins businesses. Previously, Dr Ornskov was first Chairman, then CEO and President of LifeCycle Pharma, an emerging cardiovascular and transplantation specialty company. Prior to this, he served as CEO and President of a biotech start-up Ikaria, Inc. From 2002 to 2005, Dr Ornskov was President of the Ophthalmics Business Unit for Novartis. Prior, he led Novartis' U.S. cardiovascular franchise. Prior to joining Novartis, Dr Ornskov held multiple leadership positions at Merck & Co.
"We are delighted that Dr Ornskov has agreed to be nominated for election to Evotec's Supervisory Board. Following the Company's strategic transition from an organization focused on technologies and services to a drug discovery and development company, we believe this is the right point in time to nominate a new Chairman with a strong background in drug development. Dr. Ornskov is an experienced professional in the pharmaceutical industry and we are convinced that Evotec will greatly benefit from his international experience and industry background as the discovery and development of drug candidates and their partnering towards commercialization is increasingly becoming the key component of Evotec's business," commented Prof Dr Riesenhuber, Chairman of the Supervisory Board of Evotec AG.
In addition, as communicated in September 2007 in context of the acquisition of Renovis, Dr Corey Goodman, President of Pfizer's Biotherapeutics and Bioinnovation Center and former Chief Executive Officer & President of Renovis, and John Walker, CEO of Novacea and former Executive Chairman and Principal Executive Officer of Renovis, will be nominated for election as new members of Evotec's Supervisory Board. They will replace Peer Schatz and Dr William Jenkins who decided to step down from their positions on the Supervisory Board. Dr Jenkins will remain active at Evotec as Chairman of its Scientific Advisory Board.
"I would like to express on behalf of the management of Evotec our warmest thanks to Prof Riesenhuber for his reliable and invaluable support in the dynamic development of Evotec for many years. Prof Riesenhuber has made enormous contributions to the successful development of our company and our transition to become a developer of novel CNS drugs and I am delighted that he will stay connected with Evotec in his new role. In addition, I would like to thank Dr William Jenkins and Peer Schatz for their significant contributions in this development as well and look forward to working with Dr Jenkins in his role as Chairman of our Scientific Advisory Board," added Jörn Aldag, President & Chief Executive Officer of Evotec AG.
Contact: Anne Hennecke, Senior Vice President, Investor Relations & Corporate Communications, Evotec AG, Phone: +49.(0)40.56081-286, email@example.com
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about our expectations and assumptions concerning regulatory, clinical and business strategies, the progress of our clinical development programs and timing of the results of our clinical trials, strategic collaborations and management's plans, objectives and strategies. These 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. In particular, the risks and uncertainties include, among other things: risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured; risks relating to our ability to advance the development of product candidates currently in the pipeline or in clinical trials; our inability to further identify, develop and achieve commercial success for new products and technologies; competing products may be more successful; our inability to interest potential partners in our technologies and products; our inability to achieve commercial success for our products and technologies; our inability to protect our intellectual property and the cost of enforcing or defending our intellectual property rights; our failure to comply with regulations relating to our products and product candidates, including FDA requirements; the risk that the FDA may interpret the results of our studies differently than we have; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully secure regulatory approval of and market our drug candidates; and risks of new, changing and competitive technologies and regulations in the U.S. and internationally.
The list of risks above is not exhaustive. Our Annual Report on Form 20-F, filed with the Securities and Exchange Commission, and other documents filed with, or furnished to the Securities and Exchange Commission, contain additional factors that could impact our businesses and financial performance. 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.