Corporate Banner
Satellite Banner
Scientific Communities
Become a Member | Sign in
Home>News>This Article

Evotec raises € 30 m from Biotechnology Value Fund

Published: Monday, September 02, 2013
Last Updated: Monday, September 02, 2013
Bookmark and Share
Biotechnology Value Fund, L.P. and other affiliates of US investment firm BVF partners L.P. (“BVF”) invest € 30 M in new Evotec shares.

Evotec AG announced a 9.9% increase of its share capital. Evotec resolved on a capital increase from its authorised capital against cash contribution by issuing 11,818,613 new shares to the Biotechnology Value Fund, L.P. and other affiliates of the US biotech specialist investment firm BVF Partners L.P. Shareholders’ subscription rights will be excluded.
In a direct placement capital increase, which was arranged between the Company and BVF, BVF will invest € 30 m to subscribe for 11,818,613 new shares of Evotec at a share price of € 2.55 per share. This involves a discount of approximately 3% to the closing auction price of the share on 27 August 2013, one day prior to the day of the Management Board resolution. With the registration of the capital increase in the commercial register, the registered share capital of the Company will increase to € 130,365,452.
In a simultaneous transaction, BVF also purchased an option from TVM granting BVF the right to acquire an additional 11,818,612 shares of Evotec at € 4.00 per share within the next 30 months. Should this option be exercised in full, BVF will have a total shareholding in Evotec of over 18%.
Dr Werner Lanthaler, Chief Executive Officer of Evotec, commented: “We want to welcome BVF at Evotec. This additional capital further strengthens our flexibility for us to invest in and expand our best-in-class EVT Execute Pharma outsourcing service strategy and our EVT Innovate strategy to build significantly more Cure X and Target X initiatives together with top academic partners and biotech firms. In addition, I would like to thank TVM and also ROI Verwaltungsgesellschaft mbH (“ROI”), who made the option agreement possible. With the support from ROI, TVM will be able to sell the additional options to BVF.”
Matthew Perry, Portfolio Manager of Biotechnology Value Fund, said: “It is a privilege to become a major strategic shareholder of Evotec. The Company has built an outstanding business model that can sustainably generate novel, high-value drug candidates. This is a highly capital-efficient drug discovery engine that we are excited to support into the future.”
Dr Hubert Birner, Managing Partner of TVM, added: “BVF, a very reputable US investor, took an enthusiastic position on the future of Evotec and was determined to secure an even stronger position in the Company than could have been acquired directly via the public markets. TVM and ROI together were happy to provide such opportunity for BVF through an option agreement and we highly welcome BVF as a specialised biotechnology investor and co-shareholder in Evotec.”

Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,700+ scientific posters on ePosters
  • More Than 3,800+ scientific videos on LabTube
  • 35 community eNewsletters

Sign In

Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Evotec Awarded Contract to Manage NCI CBC Screening Libraries Center
Company will provide compound management services for a period of five years.
Friday, October 09, 2015
Evotec AG Increases Its Revenue Guidance For 2015
All other elements of the Company’s financial guidance as of 12 May 2015 are confirmed.
Tuesday, September 15, 2015
Evotec Enters into Agreement with Pfizer
Licence and collaboration agreement in the field of tissue fibrosis.
Friday, September 11, 2015
Evotec, Apeiron Biologics and Sanofi Collaborate
Evotec AG and Apeiron Biologics AG, a biotech company with a focus on immunological approaches to treat cancer, have announced a strategic collaboration with Sanofi to develop novel small molecule-based cancer immunotherapies.
Monday, August 10, 2015
Evotec & Facio Partner
Facio partners with Evotec and initiates FSHD drug discovery programme.
Friday, May 08, 2015
Evotec and C4XD Enter Collaboration
Collaboration leverages the breadth & experience of Evotec's drug discovery infrastructure across chemistry & biology.
Tuesday, January 20, 2015
Evotec and Padlock Therapeutics Extend Collaboration
Evotec and Padlock Therapeutics announce initial success and extension of long-term collaboration.
Friday, January 09, 2015
Evotec and Sanofi Enter into Exclusive Negotiations
Goal to improve innovation effectiveness in drug discovery and pre-clinical development.
Thursday, December 04, 2014
Evotec And The Jain Foundation Expand Collaboration
The collaboration marks the start of multiple drug screening programmes.
Monday, September 15, 2014
Evotec, Medicines for Malaria Announce Compound Management Collaboration
The collaboration will support MMV’s Malaria and Pathogen Box initiatives.
Tuesday, August 19, 2014
Evotec, Fraunhofer in Drug Discovery Collaboration
The exclusive, strategic collaboration will combine the relevant platforms of both organisations, focusing on several disease areas.
Tuesday, July 08, 2014
Evotec Receives Milestone Payment as part of its Discovery Alliance with Boehringer Ingelheim
Company receives milestone payment of € 1.0 m.
Thursday, June 19, 2014
Evotec to Establish an Anti-infectives Platform with the Acquisition of Euprotec Ltd
Adds key know-how and infectious disease therapeutic area capabilities.
Thursday, May 29, 2014
Evotec Acquires UK-Based CRO Euprotec
Company announce the acquisition of all shares in Euprotec Ltd, a recognised leader in anti-infective drug discovery services
Thursday, May 29, 2014
Evotec Receives First Milestone in Roche Biomarker Collaboration
Evotec AG announce the successful achievement of a milestone in its biomarker alliance with Roche.
Thursday, April 24, 2014
Scientific News
Breaking Through the Barriers to Lab Innovation
Here we examine the drivers behind the move for greater innovation, the challenges and current trends in laboratory informatics, and the tools that can be used to break these barriers.
Education and Expense: The Barriers to Mass Spectrometry in Clinical Laboratories?
Here we examine the perceived barriers to mass spec in clinical laboratories and explore the possible drivers behind the recent shift in uptake of the technology in clinical settings.
Fruit Fly Pheromone Flags Great Real Estate for Starting a Family
Finding could aid efforts to control mosquito-borne diseases like malaria by manipulating odorants
Gene Editing Could Enable Pig-To-Human Organ Transplant
The largest number of simultaneous gene edits ever accomplished in the genome could help bridge the gap between organ transplant scarcity and the countless patients who need them.
Antioxidants Cause Malignant Melanoma to Metastasize Faster
Fresh research at Sahlgrenska Academy has found that antioxidants can double the rate of melanoma metastasis in mice.
New Therapy Reduces Symptoms of Inherited Enzyme Deficiency
A phase three clinical trial of a new enzyme replacement medication, sebelipase alfa, showed a reduction in multiple disease-related symptoms in children and adults with lysosomal acid lipase deficiency, an inherited enzyme deficiency that can result in scarring of the liver and high cholesterol.
Adult High Blood Pressure Risk Identifiable in Childhood
Groups of people at risk of having high blood pressure and other related health issues by age 38 can be identified in childhood, new University of Otago research suggests.
Analyzing Protein Structures in Their Native Environment
Enhanced-sensitivity NMR could reveal new clues to how proteins fold.
Supercoiled DNA is Far More Dynamic Than the “Watson-Crick” Double Helix
Researchers have imaged in unprecedented detail the three-dimensional structure of supercoiled DNA, revealing that its shape is much more dynamic than the well-known double helix.
Mini-kidneys Successfully Grown from Stem Cells
Researchers from Murdoch Childrens Research Institute have perfected a method of turning stem cells into mini-kidneys for use in drug screening, disease modelling and cell therapy.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,700+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos