Evotec OAI Extends Discovery Agreement with Solvay Pharmaceuticals

Hamburg, Germany | Abingdon, UK - Evotec OAI AG, Hamburg, Germany (Neuer Markt: EVT), a partner for integrated high-value-added drug discovery to the pharmaceutical and biotechnology industries, announced today a one-year extension of its Focused Library Agreement with Solvay Pharmaceuticals which was originally signed in January 2001.
Applying Evotec OAI's world class expertise in high-speed and computational chemistry, a dedicated team of Evotec OAI chemists will design and synthesise collections of small, drug-like molecules around selected Solvay templates. Solvay will use these high-quality compounds in screens against their targets to identify novel drug candidates. Evotec OAI has the potential to earn further clinical and market milestones.
Joern Aldag, President and Chief Executive Officer of Evotec OAI, commented: "This collaboration has set a standard on how we work collaboratively with our partners. Over the past two years we have demonstrated that our drug discovery expertise adds significant value to Solvay's programmes. We are delighted that Solvay decided to continue the partnership with Evotec OAI and to become one of our multi-year discovery partners."
Dr Jan van Randen, Technology Development Head of Solvay
Pharmaceuticals, added: "Our partnership with Evotec OAI has proven to be extremely successful as it resulted in the timely delivery of excellent scientific results. We are particularly impressed by Evotec OAI's wealth of chemistry talent which led to novel, innovative approaches in creating drug-like molecules around Solvay's templates."
About Evotec OAI AG
Evotec OAI offers a comprehensive range of high-value added services and products required to increase the efficiency and at the same time reduce the risk in the identification of new drugs. By integrating proprietary state-of-the-art technologies and processes in biology, chemistry and screening, the Company has established a unique position for all the critical elements in the drug discovery and development process - from target to clinical development. Due to its extensive know how and experience Evotec OAI is the ideal partner for pharma and biotech companies world-wide. To date, Evotec OAI has completed over 1,200 projects with 150 companies, including all of the top 20 global pharmaceutical companies and major biotechs.
The Company employs more than 600 people, primarily at its two main sites at Hamburg in Germany and Abingdon in the UK. Subsidiaries are located in Europe and North America. In 2001 Evotec OAI achieved revenues of EUR 63.2 million. Evotec OAI shares are listed on the Neuer Markt of the Frankfurt Stock Exchange since November 1999 (NM: EVT).

About Solvay Pharmaceuticals
Solvay Pharmaceuticals is a member of the Solvay group of pharmaceutical and chemical companies, employing some 6000 people worldwide in pharmaceutical R&D, manufacturing and sales and marketing.  Its research and development activities are concentrated onto carefully selected clinical targets in the fields of psychiatry, gastroenterology, cardiology and hormone replacements.