fr   en

Tableaux synoptiques (en anglais)

Parcourir par date
Rechercher par mot clé
Date: 2010-07-14
Acquiring pharma company: Evotec (Germany)
Acquired biotech company: Develogen (Germany)
Amount: up to € 14m in shares and an earn-out component in cash. The € 14m in shares will be created using Evotec’s authorised capital with an attributed value per share of € 2.00. € 8m (4m shares) are issued to the sellers at closing; € 6m (3m shares) are conditional.
Terms of the agreement: Evotec has signed a definitive agreement to acquire DeveloGen, a biopharmaceutical company engaged in the discovery of novel therapeutic approaches for the treatment of metabolic and endocrine disorders, for up to € 14m in shares plus performance-related deferred payments (earn-out).
The transaction significantly catalyses Evotec’s strategy to become the world leading drug discovery and early development partner for pharma and biotechnology companies. Evotec gains DeveloGen’s target discovery, validation and in vivo/in vitro pharmacology expertise and adds core disease biology know-how in metabolic diseases
It also adds two complementary alliances to Evotec’s portfolio of core assets.
The first one is an integrated discovery alliance with Boehringer Ingelheim on small molecules to treat insulin resistance (type 2 diabetes). In this performance-based alliance Evotec will receive ongoing research funding and may earn potential milestone payments of up to € 237m for the lead compound as well as royalty payments.
The second on is a development partnership with Andromeda (Teva) on DiaPep277, a synthetic peptide immunomodulator to treat type 1 diabetes in pivotal Phase III clinical development. Evotec may receive royalties upon commercialisation of DiaPep277 products and significant milestones upon the successful completion of key development and regulatory milestones.

DeveloGen’s growth factor, targeting beta cell regeneration (type 1 and type 2 diabetes), which is in lead optimisation and has been funded by the Juvenile Diabetes Research Foundation, forms also part of the transaction. The most advanced lead, DG770, triggers beta cell proliferation and neogenesis and has demonstrated efficacy and safety in various preclinical models.