EVOTEC OAI Wins Contract for the Supply of Chemical Libraries to Solvay Pharmaceuticals

8 February 2001 -  EVOTEC OAI, Hamburg, Germany (EVOTEC BioSystems AG, Neuer Markt: EVT), a supplier of integrated high-value added biological, chemical and screening services to the pharmaceutical and biotech industries, has won a contract to supply chemical libraries to Solvay Pharmaceuticals.
Under the terms of the contract a dedicated team of EVOTEC OAI chemists will synthesize discrete compounds over a period of two years. Solvay will use these compounds in screens against targets in their drug discovery programs.  Milestones will be payable to EVOTEC OAI if any compound provided enters Phase III clinical trials and/or is commercialized.
Edwin Moses, EVOTEC OAI's President commented, "EVOTEC OAI is very pleased to be working with Solvay, a leading pharmaceutical company, for the first time.  We are confident that we can make a significant contribution to supplementing their drug discovery programs."
Prof. Siegfried Schäfer, VP Global Research, Solvay Pharmaceuticals, added, "In choosing EVOTEC OAI as a partner in drug discovery we are looking forward to accessing part of the wide range of chemistry expertise that they have, in this case the design and synthesis of small, drug-like molecules. EVOTEC OAI's libraries will enhance our drive to identify molecules with activity on our selected targets."
For further information please contact:
Dr Edwin Moses, President                                                              
+44 (0)1235 861561  
Anne Hennecke, Investor Relations                                                   
+49 (0)40 56081286
EVOTEC OAI offers the full range of high-value added products and services required to discover and develop drugs more effectively and efficiently. By integrating accelerated methods in biology, chemistry and screening, the Company has established a unique position as a one-stop-shop for all the critical elements in the drug discovery research and development process from target to clinical development. Approximately 500 people are based in Hamburg, Germany and Abingdon, U.K. EVOTEC OAI already has close links with many of the leading companies in the pharmaceutical and biotechnology industries, including Novartis, Pfizer, Glaxo SmithKline, Aventis, Pharmacia/Sugen, Bayer, BMS, Roche, Amgen, Biogen, Vertex, Serono and Immunex. The new Company's shares are listed on the Neuer Markt of the Frankfurt Stock Exchange.
On July 31, 2000, EVOTEC BioSystems AG, a German registered public company, and Oxford Asymmetry International (OAI), a U.K. registered public company, announced their intention to merge. This merger became unconditional on September 29, 2000. OAI formally de-listed from the London Stock Exchange on December 1, 2000.
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.
The statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties including, without limitation, risks associated with the inherent uncertainty of pharmaceutical research, product development and commercialization, the impact of competitive products, patent, product liability and third party reimbursement risks associated with the biotechnology industry, and the other risks and uncertainties detailed from time to time in Oxford Asymmetry International's periodic reports.  Actual results may differ from the forward-looking statements