Hamburg, Germany | Oxford, UK - Evotec OAI AG (Frankfurt Stock Exchange: EVT, TecDAX 30) today announced that it intends to restructure its Supervisory Board following the acquisition of Evotec Neurosciences (ENS) in March 2005. The Company will propose to its Annual General Meeting (AGM) on 7 June 2005 to elect Dr Hubert Birner, Dr Peter Fellner and Dr Alfred Oberholz to its Supervisory Board and to re-elect the court appointed Mary Tanner (see press release, 19 January 2005). The term of office of Ms. Tanner expires at the conclusion of the AGM. The new members will support Evotec OAI in building a focused drug discovery and development company with a sustainable pipeline of CNS-related (central nervous system) drug candidates.
Dr Hubert Birner is a General Partner at TVM Techno Venture Management. He served as the Chairman of ENS prior to the acquisition. Dr Birner led top tier VC companies to invest in ENS in its EUR 25 million Series A financing in March 2004 and has been a major driver behind the concept of leveraging the synergies between Evotec OAI and ENS to build a sustainable CNS pipeline. He is a member of the boards of a number of biotech companies including Jerini AG and Direvo Biotech AG. Dr Birner has a deep insight into scientific and commercial aspects of this industry. Before joining TVM in 2000, he was head of Business Development Europe and Director of Marketing Germany at AstraZeneca. Dr Birner will continue to support us in building Evotec OAI's pipeline. He will replace Dr Karsten Henco, who declared his resignation effective at the end of the AGM.
Dr Peter Fellner is Executive Chairman of Vernalis plc and is also chairman or a director of several other biotechnology companies. His career has spanned both scientific and executive positions in the pharmaceutical and biotechnology sector, which have included serving as director of the Roche UK Research Centre, and then as CEO of Roche UK. He was subsequently CEO and then Chairman of Celltech Group plc, overseeing its development from an early research-stage company to the largest UK biotechnology company, before its acquisition by UCB in 2004. He has broad knowledge of the industry and has the strategic execution skills necessary to support our drive to make Evotec OAI one of the best CNS focused companies. Dr Fellner will replace Dr Edwin Moses who resigned from the Company's Supervisory Board effective 12 April 2005.
Dr Alfred Oberholz is a member of the Management Board of Degussa AG. Degussa has undergone a significant transition and refocus of their major activities through restructuring, disposing of and acquiring businesses to strengthen their position. Dr Oberholz played a leading role in executing this strategic restructuring. He will replace Dr Pol Bamelis who declared his resignation effective at the end of the AGM.
The new members will be elected for the rest of the term of office of resigned members.
Professor Heinz Riesenhuber, Chairman of the Supervisory Board of Evotec OAI, said: "I would like to thank Dr Bamelis, Dr Moses, and Dr Henco for their dedication and professional contributions to our Company through many years. Dr Moses and Dr Henco, the two founders of the business, have played a pivotal role in building Evotec OAI following the merger in 2000 as members of the Management and Supervisory Boards of our Company. Dr Bamelis joined the Supervisory Board in June 2001. Their advice, experience and visionary strengths have been invaluable to the Company and have strongly supported a successful integration of our sites in Hamburg and Abingdon into a world leading drug discovery and development company."
Dr Moses has been a Member of the Supervisory Board of Evotec OAI since 1 July 2001. He oversaw the merger of EVOTEC BioSystems AG and Oxford Asymmetry International plc in 2000 and was a member of the Management Board of the combined entity until the key integration phase of both companies was successfully completed. As Chief Executive Officer and Executive Chairman he was responsible for the successful development of Oxford Asymmetry International (OAI) into a leading provider of sophisticated drug discovery and development chemistry solutions, a company he started in 1993 as Managing Director. Dr Moses will continue to serve Evotec OAI as a consultant.
Dr Karsten Henco has been a Member of the Supervisory Board of Evotec OAI since 1 July 2001. From the Company's inception until 1 July 2001 Dr Henco was Managing Director and Chief Executive Officer. During this period he was actively involved in the public offering of EVOTEC BioSystems AG and the successful conclusion of the EVOTEC BioSystems AG and Oxford Asymmetry International plc merger to Evotec OAI. Dr Henco was a co-founder of EVOTEC BioSystems GmbH in December 1993. He will continue to serve Evotec OAI as the Chairman of the Scientific Advisory Board and as a consultant.
About Evotec OAI AG
Evotec OAI is a leader in the discovery and development of the next generation of novel small molecule drugs both through its own discovery programmes and through contract research partnerships. In its own discovery programmes, the Company specialises in finding new treatments for diseases of the central nervous system (CNS), which were expanded in March 2005 through the acquisition of Evotec Neurosciences. The Company now has a number of products in late stage pre-clinical development, the most advanced of which, a subtype selective NMDA receptor antagonist for the treatment of Alzheimer's disease, Parkinson's disease and neuropathic pain, is expected to enter clinical trials later this year.
In contract research, Evotec OAI has established itself as the partner of choice for pharmaceutical and biotechnology companies worldwide. The Company provides innovative solutions from drug target to clinic through an unmatched range of integrated capabilities, including early stage assay development and screening through to medicinal chemistry and drug manufacturing.
With over 600 people located in Hamburg, Germany and near Oxford, UK, Evotec OAI is committed to generating value for its partners, shareholders and employees through a sustainable strategy that balances short and long-term business opportunities.
www.evotecoai.com
Contact: Anne Hennecke, Director, Investor Relations & Corporate Communications, Evotec OAI AG, Phone: +49-40-56081-286, anne.hennecke@evotecoai.com
Contact: Anne Hennecke, Director, Investor Relations & Corporate Communications, Evotec OAI AG, Phone: +49-40-56081-286, anne.hennecke@evotecoai.com
Evotec OAI Proposes Changes to its Supervisory Board to Support the Implementation of its Strategy of Proprietary Drug Development
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