Ad hoc Release According to Section 15 WpHGEvotec to Acquire Neuro3d
HAMBURG, Germany and OXFORD, England, March 29, 2007 /PRNewswire-FirstCall/ -- Evotec AG today announced the acquisition of all shares of Neuro3d S.A., Mulhouse, France, with all assets contained therein. Evotec acquires proprietary assays and know-how about a target that has potential for the treatment of a number of diseases of the central nervous system (CNS), a related focused compound library as well as up to EUR22m of net cash. Of this amount, approximately EUR18m of cash are included in Neuro3d's balance sheet already, and the remainder is expected to be received by the beginning of 2009. The acquisition will be effected through a share-for-share transaction in which Evotec will issue approximately 6.0 million new ordinary shares. The Mulhouse site will not be maintained.
Neuro3d will be consolidated in Evotec's group financial statements as of 01 April 2007. The net cash proceeds from this transaction will be used to advance the acquired CNS project and to expand Evotec's preclinical discovery efforts with the goal to further strengthen its proprietary CNS pipeline.
Contact: Anne Hennecke, SVP, Investor Relations & Corporate Communications, Evotec AG, Schnackenburgallee 114, 22525 Hamburg, Germany, Phone: +49(0)40-560-81-286, firstname.lastname@example.org
CONTACT: Contact: Anne Hennecke, SVP, Investor Relations & CorporateCommunications, Evotec AG, Schnackenburgallee 114, 22525 Hamburg, Germany,Phone: +49(0)40-560-81-286, email@example.com
Terms and conditions of use apply
Copyright © 2007 PR Newswire Association LLC. All rights reserved.
A United Business Media Company
Posted: March 2007
Recommended for you