Evotec and Sanofi enter into exclusive negotiations for a major multi-component strategic collaboration
Hamburg, Germany - 02 December 2014: Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) announced today that it has entered into exclusive negotiations with Sanofi on a major multi-component strategic alliance over the next five years. The alliance, on completion, will cover three major strategic initiatives:
Firstly, over the next five years, Evotec and Sanofi will collaborate on pre-clinical development project initiatives with an initial focus on oncology and Evotec will also license from Sanofi a portfolio of projects including five well-advanced pre-clinical projects in oncology. Secondly, Evotec and Sanofi will enter into an outsourcing alliance and Evotec will acquire Sanofi's scientific operations in Toulouse, France. Evotec will integrate these scientific operations including more than 200 highly experienced scientists into its global drug discovery platform. From this new facility, Evotec will perform collaborative research with its Pharma, biotech and academic partners as well as internal research. Evotec will also assume management of Sanofi's global screening library. Lastly, Evotec and Sanofi will combine their compound libraries and make them available for screening projects to Evotec's partners.
The collaboration will result in a minimum guaranteed commitment from Sanofi to Evotec of EUR 250 m over the next five years, including a sizeable upfront cash payment that will be defined in the agreement. Evotec will also be entitled to milestone and royalty rights on some potential products that will be generated within the joint discovery and pre-clinical programmes.
This multi-component transaction is expected to be signed in the first half of 2015, subject to finalization of definitive agreements and completion of the appropriate social process.
Contact: Dr Werner Lanthaler, Chief Executive Officer, Evotec AG, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49.(0)40.560 81-242, werner.lanthaler@evotec.com
Firstly, over the next five years, Evotec and Sanofi will collaborate on pre-clinical development project initiatives with an initial focus on oncology and Evotec will also license from Sanofi a portfolio of projects including five well-advanced pre-clinical projects in oncology. Secondly, Evotec and Sanofi will enter into an outsourcing alliance and Evotec will acquire Sanofi's scientific operations in Toulouse, France. Evotec will integrate these scientific operations including more than 200 highly experienced scientists into its global drug discovery platform. From this new facility, Evotec will perform collaborative research with its Pharma, biotech and academic partners as well as internal research. Evotec will also assume management of Sanofi's global screening library. Lastly, Evotec and Sanofi will combine their compound libraries and make them available for screening projects to Evotec's partners.
The collaboration will result in a minimum guaranteed commitment from Sanofi to Evotec of EUR 250 m over the next five years, including a sizeable upfront cash payment that will be defined in the agreement. Evotec will also be entitled to milestone and royalty rights on some potential products that will be generated within the joint discovery and pre-clinical programmes.
This multi-component transaction is expected to be signed in the first half of 2015, subject to finalization of definitive agreements and completion of the appropriate social process.
Contact: Dr Werner Lanthaler, Chief Executive Officer, Evotec AG, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49.(0)40.560 81-242, werner.lanthaler@evotec.com
