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Evotec SE (symbol: EVTCY) is a life science company based in Hamburg, Germany, with a unique business model focused on discovering and developing highly effective therapeutics. The company operates globally with over 5,000 employees and has strategic activities in neurology, oncology, metabolic, and infectious diseases. Evotec's multimodality platform combines innovative technologies, data, and science to create a world-leading co-owned pipeline for innovative therapeutics. The company collaborates with top pharmaceutical companies, biotech firms, academic institutions, and other healthcare stakeholders to deliver cutting-edge pharmaceutical products.
Evotec has announced an extension of its partnership with Bristol Myers Squibb in the field of targeted protein degradation, originally established in 2018. This extension comes with an undisclosed collaboration payment that will support the expansion of Evotec's PanOmics platform. The partnership aims to enhance the pipeline for drug candidates, particularly for solid tumors. Two projects have already advanced to lead optimization stages due to the successful integration of Evotec's research platforms.
Evotec SE announced the resignation of its Chairman of the Supervisory Board, Prof. Dr Wolfgang Plischke, effective after the Annual General Meeting on June 15, 2021. Prof. Dr Plischke has held this position since 2014. The resignation is due to personal reasons, and the company expressed its gratitude for his dedicated service. This transition in leadership may impact future strategic decisions and governance within the company.
Evotec SE has commenced construction of its J.POD(R) 2 EU biologics manufacturing facility in Toulouse, France, aimed at producing therapeutic antibodies, including those for infectious diseases like COVID-19. This facility, supported by €50 million from various French governmental bodies, is projected to cost approximately €150 million. It will enhance Evotec's capacity for biotherapeutic development and manufacturing, leveraging advanced automation and continuous bioprocessing technology. The facility is expected to begin operations in 2023, contributing to global bio-manufacturing needs.
Evotec has granted Kazia Therapeutics an exclusive worldwide license for the oncology asset EVT801, a small molecule inhibitor targeting VEGFR3. Kazia plans to initiate a Phase I clinical trial managed by Evotec, focusing on both monotherapy and combinations with immunotherapy. Evotec will receive an upfront payment, funding for biomarker development, and may earn over €300 million in milestones plus tiered royalties on net sales. This partnership aims to address significant unmet medical needs in oncology.
Evotec has launched beLAB2122, a $20 million initiative in collaboration with Bristol-Myers Squibb, aimed at advancing first-in-class therapeutic projects from top academic institutions in the Rhine-Main-Neckar region of Germany. This innovative framework seeks to translate promising academic research into viable drug discovery and early development projects, tapping into Europe’s leading life science cluster. The collaboration includes renowned institutions like EMBL and DKFZ, marking a significant milestone in bridging academia and industry.
Evotec SE announces that its selective A2a receptor antagonist, developed in partnership with Exscientia, has entered human clinical trials. The drug targets advanced solid tumors and is co-owned by both companies, with Exscientia leading the clinical development. Utilizing Exscientia's advanced AI platform, the drug aims to minimize side effects while enhancing T-cell immune response against tumors. This collaboration is seen as a significant step towards innovative cancer treatment.
Evotec SE reported strong financial results for fiscal year 2020, with group revenues rising 12% to €500.9 million, surpassing expectations despite pandemic challenges. The company anticipates continued growth, projecting 2021 revenues between €550-570 million. Adjusted EBITDA for 2020 was €106.6 million, slightly under prior year results. The solid balance sheet and successful collaborations position Evotec for further expansion, particularly with the Just - Evotec Biologics segment. The company remains focused on innovative research and development initiatives.
Evotec SE has entered a strategic alliance with Takeda Pharmaceutical Company to develop small molecule therapeutics targeting multiple RNA entities. This collaboration aims to innovate treatments for previously intractable targets, utilizing Evotec's proprietary RNA targeting platform. Financially, Evotec will receive substantial research funding, with potential milestones worth up to US$ 160 million per program along with tiered royalties on net sales of any products from this partnership. The companies express mutual excitement over the prospects of this collaboration.
Evotec SE plans to announce its 2020 financial results on March 25, 2021. A conference call will follow to discuss these results and provide performance updates. The call will be conducted in English at 02:00 pm CET. Interested participants can access the call via various international phone numbers or join the audio webcast available on the company's homepage. Evotec operates actively in drug discovery and development, boasting over 100 co-owned product opportunities across various therapeutic areas, as per their strategic partnerships with leading pharmaceutical companies.
Evotec SE and Chinook Therapeutics have announced a strategic collaboration to discover and develop precision medicine therapies for chronic kidney diseases (CKD). This partnership will utilize Evotec's PanOmics and PanHunter platforms, leveraging extensive molecular datasets from CKD patients. Evotec will receive undisclosed upfront payments, research funding, and potential milestone payments and royalties. Chinook will lead clinical development and commercialisation efforts. The collaboration seeks to identify molecular drivers and develop targeted therapies for rare kidney diseases.
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