September 10, 2010: Evotec AG has closed its agreement to acquire DeveloGen announced in 14 July of this year. Following the fulfilment of various closing conditions, the sellers of 99.3% of the shares in DeveloGen AG have transferred their shares to Evotec. Evotec has issued 6,750,014 new Evotec Shares from its authorised capital as part consideration for the transaction.
The transaction adds two complementary alliances, one with Boehringer Ingelheim and one with Andromeda (Teva), to Evotec’s portfolio of core assets. In addition, it augments and complements Evotec’s high-end drug discovery platform and capability with DeveloGen’s target discovery, validation and in-vivo/in- vitro pharmacology expertise and adds core disease biology know-how in metabolic diseases and endocrine disorders.
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