Evotec and Sanofi Sign Definitive Agreement for Major Multi-Component Strategic Alliance
March 19 2015 - 8:11PM
- Total deal value of € 250 m, including more than
€ 40 m upfront cash payment
- Long-term discovery service collaboration with
Sanofi
- Major pipeline-building initiative with focus on
oncology
- Evotec acquires Sanofi's scientific operations and
related employees at Toulouse site
- Creation of Evotec's European compound management
centre
- Sanofi and Evotec offering joint small molecule
libraries to biotech and other Pharma players for hit
discovery
- Establishment of French academic
bridge
Evotec AG (Frankfurt Stock Exchange:EVT) (TecDAX)
(ISIN:DE0005664809) today announced that a definitive agreement for
a major multi-component strategic alliance over the next five years
has been signed with Sanofi. The transaction is expected to close
on 31 March 2015. This successfully concludes the exclusive
negotiations for a major multi-component strategic collaboration
which the two companies entered into on 02 December 2014.
The collaboration will result in a minimum guaranteed commitment
from Sanofi to Evotec of € 250 m, including more than €
40 m upfront cash payment. The five-year agreement includes
initiatives with both of Evotec's two business segments
(EVT Execute and EVT Innovate).
Capacity and capability expansion
Following its strategic growth plans, Evotec will expand its
industry-leading capabilities in drug discovery by integrating a
state-of-the-art facility of approx. 20,000 m2 and more than
200 highly qualified and experienced employees in Toulouse, France.
Evotec will integrate the Toulouse capacities into its global drug
discovery infrastructure and offering. The expanded capabilities
will serve to support collaborative research in drug discovery from
screening to identification of pre-clinical candidates with
Evotec's Pharma, biotech, venture capital and academic
partners.
Strategic outsourcing agreement
Evotec will provide a broad range of long-term drug discovery
services to Sanofi. This agreement is centred on the core
small-molecule discovery platforms in Toulouse for the period of
the contract over the next five years. In addition, Evotec will
assume management of Sanofi's global screening compound
library.
Offering of joint small-molecule libraries
In a first-in class, ground-breaking 'open innovation
initiative', both companies will combine their libraries and offer
them for screening to Evotec's business partners. This creates one
of the largest and most valuable sources of starting points for
drug discovery with approx. 1,700,000 compounds available to
screen.
Pipeline-building initiative in oncology
The definitive agreement defines the conditions under which
Evotec and Sanofi intend to jointly progress a portfolio of
primarily oncology related projects, including five advanced,
pre-clinical projects and further discovery-stage assets, to IND
("Investigational New Drug") status or other value inflection
points before partnering them.
French academic bridge
Sanofi and Evotec aim at further energising and accelerating the
translation of excellent science from academic institutions to
Pharma. In a joint effort, Evotec will scout and incubate projects
generated in France into the pipeline of Evotec's Cure X/
Target X strategy.
Dr Werner Lanthaler, Chief Executive Officer of Evotec,
commented: "We are very excited to welcome our new
colleagues to Evotec. We would also like to welcome Sanofi as a new
strategic customer and key alliance partner. This transaction
supports our long-term strategic growth plans for our
EVT Execute and EVT Innovate segments and brings
significant value to Evotec's shareholders without the need for
dilutive financing."
"Sanofi is pleased to welcome Evotec as a new strategic partner
in France. We highly value this collaboration, which will reinforce
Toulouse Biopark as a major biomedical research platform in Europe
and create a field of opportunities for our employees, while
contributing to the vitality of the local ecosystem," said
Dr Elias Zerhouni, President Global R&D for
Sanofi.
Given the complexity of the transaction and the nature of some
of the consideration, Evotec's financial guidance will only be
updated after careful consideration with the auditors. An update of
how the transaction will impact the financial projections of Evotec
will be given at Evotec's year-end presentation for 2014 on 24
March 2015.
ABOUT SANOFI
Sanofi, a global healthcare leader, discovers, develops and
distributes therapeutic solutions focused on patients' needs.
Sanofi has core strengths in the field of healthcare with seven
growth platforms: diabetes solutions, human vaccines, innovative
drugs, consumer healthcare, emerging markets, animal health and the
new Genzyme. Sanofi is listed in Paris (EURONEXT:SAN) and in New
York (NYSE:SNY).
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership
company focused on rapidly progressing innovative product
approaches with leading pharmaceutical and biotechnology companies,
academics, patient advocacy groups and venture capitalists. We
operate worldwide providing the highest quality stand-alone and
integrated drug discovery solutions, covering all activities from
target-to-clinic. The Company has established a unique position by
assembling top-class scientific experts and integrating
state-of-the-art technologies as well as substantial experience and
expertise in key therapeutic areas including neuroscience, pain,
metabolic diseases as well as oncology, inflammation and infectious
diseases. Evotec has long-term discovery alliances with partners
including Bayer, Boehringer Ingelheim, CHDI, Genentech, Janssen
Pharmaceuticals, MedImmune/AstraZeneca, Roche and UCB. In addition,
the Company has existing development partnerships and product
candidates both in clinical and pre-clinical development. These
include partnerships with Boehringer Ingelheim and MedImmune in the
field of diabetes, with Janssen Pharmaceuticals in the field of
depression and with Roche in the field of Alzheimer's disease. For
additional information please go to www.evotec.com.
FORWARD LOOKING STATEMENTS — Information set
forth in this press release contains forward-looking statements,
which involve a number of risks and uncertainties. The
forward-looking statements contained herein represent the judgement
of Evotec as of the date of this press release. Such
forward-looking statements are neither promises nor guarantees, but
are subject to a variety of risks and uncertainties, many of which
are beyond our control, and which could cause actual results to
differ materially from those contemplated in these forward-looking
statements. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any such statements to
reflect any change in our expectations or any change in events,
conditions or circumstances on which any such statement is
based.
CONTACT: For further information, please contact
Gabriele Hansen
VP, Corporate Communications & Investor Relations
+49.(0)40.560 81-255
+49.(0)40.560 81-333 Fax
gabriele.hansen@evotec.com
Evotec AG
Manfred Eigen Campus
Essener Bogen 7
22419 Hamburg (Germany)
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