This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Evotec Acquires Kinaxo, Expanding Its Drug Discovery Platform With Cutting-Edge Technologies

  • Adds Proprietary Technologies for Response Prediction and Drug Efficacy and Safety Assessment; Especially in Key Indication Area Oncology
  • Adds Fast Growing Business With an Expected Revenue of €2.5m in 2011
  • Initial Purchase Price of Approx €12m Consists of €3m in Cash and 2.6m Shares; Plus Earn-Out Payments of Up to €4m Dependent on Performance Milestones

HAMBURG, Germany, Feb. 9, 2011 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced the signing of a definitive agreement to acquire all shares in Kinaxo Biotechnologies GmbH, a Munich-based drug discovery alliance company supporting the development of targeted drugs.

Strengthening Evotec's position as quality leader in drug discovery

The acquisition of Kinaxo confirms Evotec's leading position as fully integrated drug discovery and early development partner for pharma and biotechnology companies. Integration of Kinaxo's novel technologies enables Evotec and its partners to take earlier educated decisions on drug efficacy, safety and response in patients.

Kinaxo's capabilities comprise a unique combination of innovative technologies improving drug development across the entire pharma value chain:  
  • Cellular Target Profiling ® uncovers the molecular targets of compounds with unknown mode-of-action and reveals possible off-target side effects early in the discovery and development process.
  • KinAffinity ® determines the cellular selectivity of kinase inhibitors, which represent the most important class of targeted cancer drugs.
  • PhosphoScout ® provides valuable knowledge on drug modes-of-action in vivo and how they respond to drug treatment. 

"Through the acquisition of Kinaxo, Evotec gains access to a highly innovative technology base in drug discovery, which allows us to integrate a powerful response prediction platform with our leading drug discovery expertise. We are proud to significantly strengthen our performance-based discovery offering to our customers with this unique value proposition," said Dr Werner Lanthaler, Chief Executive Officer of Evotec AG.

Dr. Andreas Jenne, CEO of Kinaxo, adds: "We are excited to join forces with Evotec. Our technology portfolio perfectly fits into Evotec's integrated service offering. This will allow us to fully leverage our capabilities and grow our business much faster within larger discovery alliances." 

Prof. Dr. Axel Ullrich, Director of the Max-Planck-Institute for Biochemistry, Martinsried, and co-founder of Kinaxo, commented: "Kinaxo has built a unique technology platform that allows comprehensive analysis of cancer signal transduction processes and their response to drug treatment. The integration of the leading drug discovery capability will implement Evotec as a driver towards personalised medicine in the future."

Transaction structure reflects value potential

The purchase price consists of a cash consideration of € 3m and 2.597.400 shares from authorised capital. In addition an earn-out component of up to € 4m in cash will become due if certain performance-based milestones are reached. Parts of the shares are held in escrow and their release is subject to certain company events and representations. All shares issued are subject to certain lock-up provisions. The deal is expected to close in April 2011.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,131.86 +47.37 0.28%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,838.6430 +8.1730 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs