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Evotec SE, headquartered in Hamburg, Germany, is a leading global drug discovery and development company. Specializing in providing comprehensive solutions to pharmaceutical and biotechnology companies, academic institutions, and nonprofit organizations, Evotec is renowned for its extensive capabilities in therapeutic areas such as central nervous system disorders, diabetes, inflammation, oncology, infectious diseases, and women's health.
Evotec’s core business is divided into two main segments: Shared R&D and Just-Evotec Biologics. The Shared R&D segment, making up approximately 80% of the company's sales, offers drug discovery and manufacturing services on a fee-for-service basis. It also engages in integrated drug discovery collaborations leveraging proprietary, internally-developed assets. Just-Evotec Biologics, accounting for about 20% of sales, provides contract development and manufacturing (CDMO) services for biologics.
With a workforce of over 5,000 employees, Evotec operates 18 production sites mainly across Europe and the United States. In recent years, the company has made significant strides in forming strategic alliances and collaborations, such as the recent partnership with Claris Ventures and Variant Bio, aimed at accelerating the development of innovative therapeutics.
Evotec’s multimodal platform combines cutting-edge technologies, data, and scientific expertise to drive the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. The company’s integrated R&D network includes partnerships with all Top 20 Pharma companies and over 800 biotech companies, academic institutions, and other healthcare stakeholders. This robust network facilitates the co-creation of a world-leading pipeline of over 200 proprietary and co-owned R&D projects, ranging from early discovery to clinical development.
Recent achievements by Evotec include the successful Clinical Trial Application (CTA) for IAMA Therapeutics’ lead program IAMA-6 and the strategic collaboration with Janssen for immune-based therapies. Additionally, Evotec has expanded its relationship with Bristol Myers Squibb in neurodegeneration and targeted protein degradation.
Financially, Evotec has demonstrated resilience despite macroeconomic challenges and a substantial cyber-attack in 2023. The company reported a 4% increase in revenues, reaching €781.4 million in 2023, driven by new collaborations and the strong performance of Just-Evotec Biologics.
As of 2024, Evotec continues to focus on sustainable and profitable growth, optimizing its operations to meet evolving market demands. The company is committed to advancing its mission of discovering and developing effective therapeutics that address unmet medical needs globally.
Evotec SE announced progress in its strategic partnership with Bristol Myers Squibb for molecular glue degraders development. The expansion beyond oncology triggered a US$ 50 million payment to Evotec. The collaboration, initiated in 2018 and expanded in 2022, focuses on developing compounds from Bristol Myers Squibb's CELMoDs™ library. The partnership aims to maintain leadership in the field by creating novel molecular glue degraders for high-value targets, emphasizing therapeutic applications beyond oncology with significant unmet medical needs.
Evotec SE (Frankfurt Stock Exchange: EVT, NASDAQ: EVO) has entered into a technology development partnership with Novo Nordisk in cell therapy. The collaboration aims to support the development of next-generation off-the-shelf cell therapy products for clinical development and potential commercialization.
Novo Nordisk will provide funding for technology development activities at Evotec's R&D site in Göttingen, Germany, and at Evotec's certified cell therapy manufacturing facility in Modena, Italy. Novo Nordisk has an option to obtain exclusive rights to use the collaboration results for a pre-defined therapeutic area.
Evotec will receive R&D funding, an undisclosed upfront payment, and potential milestone and royalty payments. The partnership focuses on developing advanced technologies to support stem cell-based therapies, which have shown promise in becoming functional cures for many diseases.
Just - Evotec Biologics, part of Evotec SE, has opened its J.POD® Toulouse, France (EU) facility, marking a significant milestone in biologics manufacturing. This 15,000 sqm facility is the first of its kind in Europe, utilizing advanced continuous manufacturing technology to provide flexible and cost-effective clinical and commercial biologics production.
The facility was built in just 18 months and can produce up to 2 metric tons of biotherapeutics. It features quality control and process development labs, a warehouse, and collaborative office spaces. The J.POD® technology offers a paradigm shift in biomanufacturing, addressing challenges in scaling from clinical to commercial production.
The project received support from the French government, Occitanie Region, Bpifrance, Haute-Garonne prefecture, and Toulouse Métropole. It aims to make biotherapeutics more accessible worldwide while offering enhanced environmental sustainability.
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) and X-Chem have announced a collaboration agreement to accelerate early-stage drug discovery. X-Chem will provide access to its DNA-encoded library (DEL) technology, including DELflex and HITMiner, which can screen billions of DNA-tagged compounds simultaneously. This partnership aims to combine X-Chem's DEL technology with Evotec's screening platforms to identify potential drug candidates more efficiently for innovative biological targets.
The collaboration highlights the importance of partnerships in addressing the complexity of drug discovery. Both companies' CEOs expressed enthusiasm about the potential of this collaboration to enhance drug discovery processes and tackle challenging biological targets.
Evotec SE (Frankfurt Stock Exchange: EVT, NASDAQ: EVO) announced that Dr Matthias Evers, Chief Business Officer, will step down effective 01 October 2024 to pursue opportunities outside the company. Evers, appointed on 01 May 2022, played a important role in establishing Evotec's biologics segment Just - Evotec Biologics and aiding the company's recovery from a cyber-attack. The Supervisory Board expressed gratitude for his contributions during challenging times.
Following Evers' departure, the responsibilities of the CBO function will be distributed across other Management Board functions. Dr Christian Wojczewski, CEO of Evotec, thanked Evers for his commitment and leadership, particularly highlighting his support during the transition period.
Evotec SE reported challenging H1 2024 results, with revenues down 7% year-on-year in Shared R&D Services. Just - Evotec Biologics showed strong growth with a 50% revenue increase. The company is implementing a priority reset for sustainable profitable growth, aiming for annualized savings of at least €40m in 2025. Key points include:
- Group revenues increased by 2% to €390.8m
- Adjusted Group EBITDA totaled €(0.5)m, impacted by high fixed costs
- New collaborations signed with various partners
- Dr Christian Wojczewski took over as CEO on July 1, 2024
- Headcount reduction of approximately 400 roles planned
- Full-year 2024 outlook: revenues expected €790-820m, adjusted EBITDA €15-35m
Evotec SE (Frankfurt Stock Exchange: EVT, NASDAQ: EVO) announced significant progress in its strategic partnership with Bristol Myers Squibb focused on developing molecular glue degraders. The collaboration, initiated in 2018 and expanded in 2022, has triggered performance-based and programme-based payments totaling US$ 75 million to Evotec. This partnership combines Evotec's multi-omics screening capabilities with Bristol Myers Squibb's library of cereblon E3 ligase modulators (CELMoDs™) to identify novel molecular glue degraders for oncology and other fields.
Dr. Cord Dohrmann, Evotec's Chief Scientific Officer, highlighted the growing pipeline of molecular degraders addressing high-value targets, emphasizing the potential to deliver multiple first-in-class products to the market. The collaboration's success underscores Evotec's progress in this emerging therapeutic modality.
Evotec SE announced significant progress in its strategic neuroscience partnership with Bristol Myers Squibb, resulting in a US$ 25 million payment to Evotec for further research advancement. The collaboration, initiated in December 2016, aims to develop disease-modifying treatments for neurodegenerative diseases. Evotec's PanOmics platform, combined with patient-derived disease models, has been instrumental in generating a promising pipeline of discovery to clinical-stage programmes.
A key milestone was reached with the in-licensing of EVT8683 (now BMS-986419) by Bristol Myers Squibb in September 2021. The partnership was extended for an additional 8 years in March 2023. Dr. Cord Dohrmann, Evotec's CSO, highlighted the productive nature of the collaboration and expressed excitement about advancing another programme towards clinical development in 2026.
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, NASDAQ: EVO) has announced it will release its financial results for the first half-year of 2024 on Wednesday, 14 August 2024. The company will host a conference call and webcast to discuss the results and provide a performance update. The event will be conducted in English.
Key details:
- Webcast: 14 August 2024, 2:00 pm CEST (1:00 pm BST, 8:00 am EDT)
- Conference call: Pre-registration required
- Slide presentation available for phone participants
- On-demand version will be accessible on Evotec's website
Evotec SE has updated its guidance for fiscal year 2024, reflecting challenges in the first half of the year. The company now expects:
- Revenues of €790-820 million (low to mid-single-digit percentage growth)
- R&D expenditures of €50-60 million (low double-digit percentage reduction)
- Adjusted EBITDA of €15-35 million (mid-double-digit percentage reduction)
The Shared R&D segment faced a challenging environment, while Just - Evotec Biologics saw mid-double-digit revenue growth. The company is implementing measures to reset operational priorities, focusing on sustainable profitable growth and right-sizing its business. Annualized recurring benefits on adjusted EBITDA are expected to exceed €40 million. Evotec is evaluating additional strategic steps and developing a new mid-range plan.
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