- EXPANSION OF CGMP DRUG SUBSTANCE MANUFACTURING PLATFORM WILL CREATE A CLEAR PATH TO THE MARKET FOR RARE DISEASES AND PRECISION THERAPEUTICS
- EVOTEC GAINS A FULLY OPERATIONAL EU GMP CERTIFIED FACILITY IN HALLE/WESTPHALIA ALONG WITH A HIGHLY SKILLED TEAM OF APPROX. 60 CHEMISTS
HAMBURG, GERMANY / ACCESSWIRE / August 25, 2022 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) announced today that the Company expands its clinical and commercial manufacturing platform for small molecule therapeutics by acquiring Central Glass Germany GmbH from the Japanese chemical manufacturing company Central Glass Co. Ltd.
Going forward, Central Glass Germany GmbH will operate as Evotec Drug Substance (Germany) GmbH ("Evotec DS"). The Company is located on a pharmaceutical manufacturing campus in Halle/Westphalia, Germany and is operating with a team of ~60 chemical manufacturing experts. The facility is EU cGMP certified and provides highly flexible drug substance manufacturing space with over 5,000 square meters of floor space.
The acquisition of the Central Glass site in Germany enhances and accelerates Evotec's strategy of pursuing integrated discovery and development of new medicines that matter. The significant reactor capacity and long-standing chemical expertise brought in by Evotec DS provide a high quality, European-based solution to Evotec's partners for the development and commercialisation of drug substance. Once integrated into Evotec's existing drug substance development and manufacturing platform, the new site will offer the Company's partners highly flexible product lifecycle management strategies, particularly in the field of precision medicines and in rare diseases.
Dr Werner Lanthaler, Chief Executive Officer of Evotec, commented: "Our understanding of diseases continuously grows in depth - and with it the number of rare diseases that we can meaningfully distinguish and target with precision medicine. Evotec DS reinforces our commitment to rare diseases by integrating the manufacturing of such drugs into the drug discovery and development continuum. We very warmly welcome the team into the Evotec family and are excited to leverage their skills and expertise for our partners."
The contract was signed on 24August at a purchase price of € 1. The transaction is subject to customary closing conditions and is anticipated to close on 1 November 2022. Evotec intends to invest meaningfully in the coming years to establish the facility as a leading European centre of excellence for rare disease drug substance manufacturing. Earnings accretion is expected to be achieved by 2023/24.
ABOUT EVOTEC SE
Evotec is a life science company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and make them available to the patients. The Company's multimodality platform comprises a unique combination of innovative technologies, data and science for the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. Evotec leverages this "Data-driven R&D Autobahn to Cures" for proprietary projects and within a network of partners including all Top 20 Pharma and over 800 biotechnology companies, academic institutions, as well as other healthcare stakeholders. Evotec has strategic activities in a broad range of currently underserved therapeutic areas, including e.g. neurology, oncology, as well as metabolic and infectious diseases. Within these areas of expertise, Evotec aims to create the world-leading co-owned pipeline for innovative therapeutics and has to-date established a portfolio of more than 200 proprietary and co-owned R&D projects from early discovery to clinical development. Evotec operates globally with more than 4,200 highly qualified people. The Company's 16 sites offer highly synergistic technologies and services and operate as complementary clusters of excellence. For additional information please go to www.evotec.com and follow us on Twitter @Evotec and LinkedIn .
This announcement contains forward-looking statements concerning future events, including the proposed offering and listing of Evotec's securities. Words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "should," "target," "would" and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding Evotec's expectations for revenues, Group EBITDA and unpartnered R&D expenses. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Evotec at the time these statements were made. No assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Evotec. Evotec expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Evotec's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
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SOURCE: Evotec SE
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