Hamburg, Germany | Oxfordshire, UK - Evotec OAI AG, (Deutsche Börse: EVT, TecDAX 30), a leading partner for integrated high-value-added drug discovery and development to the pharmaceutical and biotechnology industries, today announced a re-organisation of its Executive Management designed to enhance the continued growth in its core operations.
Dr Mark Ashton, 35, has been appointed President, Drug Discovery Services and will become a member of the group's Executive Committee with effect from 1 March 2004. Dr Ashton is currently Director, Discovery Chemistry. In his new role he will lead Evotec OAI's discovery chemistry and biology operations ranging from library design, assay development and screening through to medicinal chemistry and the identification of pre-clinical drug candidates.
Dr Mario Polywka, 41, has been appointed President, Chemical and Pharmaceutical Development and will also become a member of the Executive Committee as of 1 March 2004. He will oversee all aspects of development services including process research and development, custom preparation and pilot plant manufacture. He will also be responsible for preparing the formulation subsidiary ProPharma Ltd, which is enjoying excellent growth, for the next phase of its expansion. Dr Polywka is returning to Evotec OAI after a period as an industry consultant and part time CEO in a number of University start-up companies.
Both executives will report directly to Joern Aldag, President and Chief Executive Officer.
Dr Ian Hunneyball, 53, currently President, Discovery Services and member of the Management Board, will become President of Evotec OAI's Discovery Programs Division as of 1 March and CSO as of 1 July 2004. The division, which is engaged in developing drug candidates in distinct indications for early-stage out-licensing, has enjoyed substantial success since its inception in 2003, including signing a EUR 20m contract with Takeda in CNS and initiating a strategic alliance with DeveloGen in the field of Metabolic Diseases. Dr. Hunneyball has more than 25 years of experience in drug discovery, development and managing clinical candidates.
Dr. Timm Jessen, Chief Scientific Officer and President, Discovery Programs Division, has decided to leave the Company as of 30 June 2004 and will serve as CSO until then. After 6 years with Evotec OAI he has decided to pursue an entrepreneurial career building his own business to support biotech and academia in marketing their scientific assets.
Joern Aldag, President and Chief Executive Officer of Evotec OAI, said: "The new management structure reflects the great success that the three main areas of our business are currently enjoying. It will enable us to focus clearly on maximising the potential of each operation and on meeting the exact needs of our clients; we are fortunate to have such a strong team in place. At the same time I would also like to express our gratitude to Timm for the crucial role he has played in bringing the Company to its current strong position."
About Evotec OAI AG
Evotec OAI has established itself as the partner of choice for drug discovery and development services for pharmaceutical and biotechnology companies worldwide, maintaining its leadership role through innovation and unmatched customer service.
The Company's business strategy is clearly focussed on drug discovery. It has established the most comprehensive technology platform and skills that integrate its world-class biology and chemistry capabilities. Evotec OAI leverages this discovery engine in providing assay development and screening through to compound optimisation and drug manufacturing services to a broad and well-established network of customers. In addition, the Company engages in selected discovery programmes itself to develop drug candidates for early out-licensing. Evotec OAI's instrument and technology business is now successfully handled by its affiliate, Evotec Technologies.
With over 600 people in Hamburg, Germany and Oxfordshire, UK, Evotec OAI is dedicated to returning value to its shareholders and employees through a sustainable business strategy that balances short-term and long-term revenue opportunities.
www.evotecoai.com
Anne Hennecke, Investor Relations & Corporate Communications, Evotec OAI AG, Phone: +49-40-56081-286, anne.hennecke@evotecoai.com
Anne Hennecke, Investor Relations & Corporate Communications, Evotec OAI AG, Phone: +49-40-56081-286, anne.hennecke@evotecoai.com
Anne Hennecke, Investor Relations & Corporate Communications, Evotec OAI AG, Phone: +49-40-56081-286, anne.hennecke@evotecoai.com
Evotec OAI Announces Re-organisation of it's Executive Management to Reflect the Growing Strengths of its Core Businesses
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