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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 reported a 22% increase in group revenues for the fiscal year 2022, reaching €751.4 million, exceeding its targets. The adjusted Group EBITDA was €101.7 million. The company's base business surged by 30% to €725.3 million. Positive developments include an extended alliance with Bristol Myers Squibb and multiple new strategic partnerships in various therapeutic areas. For 2023, Evotec forecasts revenues between €820 - €840 million and an adjusted EBITDA of €115 - €130 million.
Evotec has secured a US$ 6.6 million grant from the Bill & Melinda Gates Foundation to enhance its tuberculosis (TB) drug discovery efforts. This funding, the second from the foundation, will support the development of new TB treatment regimens aimed at creating a universal, shorter, and safer alternative to current therapies. The initiative aligns with UN Sustainable Development Goal 3, which focuses on health and well-being. The current TB treatment regimens are lengthy and often complicated, highlighting the need for innovative solutions to combat drug-resistant TB, which remains a critical public health issue.
Evotec SE will announce its preliminary financial results for 2022 on March 28, 2023. A conference call will take place at 02:00 PM CEST to discuss these results, along with updates on company performance. Participants can join via phone or audio webcast, with detailed registration and access information provided. Evotec operates as a life science company focused on developing innovative therapeutics through a unique multimodality platform, collaborating with top pharmaceutical firms and over 800 biotech companies. The company aims to enhance its pipeline in key therapeutic areas including oncology and neurology.
Evotec SE announced progress in its partnership with Bristol Myers Squibb, specifically in the development of a molecular glue-based pipeline. This advancement has triggered performance-based payments totaling US$ 75 million to Evotec. The collaboration, established in 2018 and further expanded in May 2022, aims to develop novel molecular glue degraders targeting oncology and more. The company's innovative approach leverages advanced technologies to enhance drug discovery, potentially leading to significant therapeutic advancements. This partnership emphasizes Evotec's commitment to building a leading pipeline through systematic molecular glue development.
Evotec has secured a €150 million unsecured loan from the European Investment Bank (EIB) to enhance its R&D activities, make equity investments, and construct a new biologics manufacturing facility named J.POD in Toulouse, France. This follows a previous loan of €75 million granted in 2017. The funding aims to support innovative research in underserved therapeutic areas and is expected to create over 200 jobs in the region. The financing agreement reinforces Evotec's commitment to advancing precision medicine and expanding its global access to therapeutics.
Evotec SE has announced an extension and expansion of its collaboration with Related Sciences, focusing on advancing transformational new medicines through 2030. This partnership, initiated in early 2021, currently oversees over 15 drug discovery programs, leveraging Evotec's extensive expertise in integrated drug discovery and A.I./M.L. capabilities. The collaboration includes the discovery of covalent inhibitors, enhancing their multi-modality portfolio. Although the financial specifics of the agreement were not disclosed, Evotec is set to receive milestones, royalties, and an equity stake in RS assets developed under this partnership.
Evotec SE has appointed Laetitia Rouxel as its new Chief Financial Officer (CFO) effective April 1, 2023, replacing Enno Spillner. The Supervisory Board expressed gratitude for Spillner's contributions to the company's growth and success, including major financings and the NASDAQ listing. Rouxel brings over 25 years of experience in finance across various sectors, having held leadership roles at Pfizer, Danone, and Coty. She aims to leverage innovation to further drive Evotec's sustainable growth. The company focuses on drug discovery and development, boasting a portfolio of over 200 R&D projects targeting multiple therapeutic areas.
Evotec SE has entered a strategic collaboration with Janssen Biotech, Inc. to develop innovative immune-based therapies for oncology. This partnership, facilitated by Johnson & Johnson Innovation, allows Evotec to leverage its integrated discovery and development capabilities. The collaboration includes an undisclosed upfront payment, potential research and commercial milestones exceeding US$ 350 million, and tiered royalties on developed products. While Janssen will lead the clinical development, Evotec will focus on pre-clinical R&D and manufacturing.
Evotec SE has expanded its collaboration with Bristol Myers Squibb, adding two new drug discovery projects and designating a target-based program for development. This progress triggers total payments of US$ 26 million to Evotec. The collaboration, initiated in December 2016, aims to find disease-modifying treatments for neurodegenerative diseases, addressing a significant unmet medical need. Dr. Cord Dohrmann emphasized the ongoing success and productivity of this six-year partnership.
Exscientia (NASDAQ: EXAI) has announced a breakthrough in identifying patient responders to its A2A receptor antagonist, EXS-21546. Highlighting new data, the company revealed the adenosine burden score (ABS) that predicts the effectiveness of the drug in combating tumor immunosuppression. Exscientia is set to confirm ABS's validity in its upcoming IGNITE-AI Phase 1/2 trial, which combines '546 with a checkpoint inhibitor for patients with relapsed renal cell carcinoma and non-small cell lung cancer. This research will be presented at the ESMO Immuno-Oncology Congress from December 7-9 in Geneva.
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