- 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
- 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.
Despite cash requirements for transaction and integration costs of approx. € 4m resulting from the acquisition, Evotec confirms to keep a very strong strategic cash balance also in 2011. For the current fiscal year, the Company expects to grow revenues by more than 15% and to end the year 2011 with a liquidity of more than € 64 m.Evotec invites you to join a conference call announcing the acquisition of Kinaxo. Details of the Conference Call:
|Thursday 10 February 2011 at|
|8.30 a.m. CET|
|7.30 a.m. GMT/2.30 a.m. US Time (East Coast)|
|+49 (0) 6958 999 0805 (Germany)|
|+44 (0) 207 153 2027 (UK)|
|US: +1 480 629 9724|
|Pass Code: 4407349|
FORWARD-LOOKING STATEMENTS— Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about our expected 2010 financial results and financial growth in 2011, our anticipated financing needs, our ability to deliver on our liquidity guidance, our belief that we are on course to sustainable profitability latest in 2012, our expectations and assumptions concerning regulatory, clinical and business strategies, the progress of our clinical development programmes and timing of the commencement and results of our clinical trials, strategic collaborations and management's plans, objectives and strategies. These 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. In particular, the risks and uncertainties include, among other things: risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured; the risk that we will not achieve the anticipated benefits of our collaborations, partnerships and acquisitions in the timeframes expected, or at all; risks relating to our ability to advance the development of product candidates currently in the pipeline or in clinical trials; our inability to further identify, develop and achieve commercial success for new products and technologies; the risk that competing products may be more successful; our inability to interest potential partners in our technologies and products; our inability to achieve commercial success for our products and technologies; our inability to protect our intellectual property and the cost of enforcing or defending our intellectual property rights; our failure to comply with regulations relating to our products and product candidates, including FDA requirements; the risk that the FDA may interpret the results of our studies differently than we have; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully secure regulatory approval of and market our drug candidates; and risks of new, changing and competitive technologies and regulations in the U.S. and internationally. The list of risks above is not exhaustive. Our most recent Annual Report on Form 20-F, filed with the Securities and Exchange Commission, and other documents filed with, or furnished to the Securities and Exchange Commission, contain additional factors that could impact our businesses and financial performance. 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: Dr. Werner Lanthaler Chief Executive Officer +49.(0)40.560 81-242 +49.(0)40.560 81-333 Fax firstname.lastname@example.org