Evotec sells single molecule detection technology to Olympus

Evotec AG has announced that its Tools and Technologies Division has sold the core of its Single Molecule Detection Technology and transferred or licensed the corresponding IP portfolio to Olympus Corporation, Tokyo, Japan.

This transaction is a further step taken by Evotec Technologies to increasingly focus its business on providing cutting edge cell imaging and cell handling systems for the cell biology growth market.

Over the past years Evotec Technologies has developed a set of innovative confocal detection methods for single molecule drug discovery. This Technology & IP portfolio and the related know-how will now be licensed or transferred to Olympus. Evotec Technologies will continue to market devices based on this IP portfolio and on supplies from Olympus as elements of its drug discovery solutions (i.e. screening systems) and will continue to serve and support the entire existing customer base. However, certain revenues previously planned in 2006 will be transferred to Olympus. Adjusted for the sale of this part of its business which generated approximately EUR 2.5 million revenues with products and services in 2005, Evotec continues to anticipate 0 to 5 % revenue growth in 2006 on its remaining business. The net proceeds from this transaction have already been included in Evotec's latest cash guidance.

The transaction will intensify the long-standing collaboration between Evotec Technologies and Olympus. This collaboration had led to the MF20 molecular interaction analytical system, which is manufactured and marketed by Olympus. Olympus meanwhile has successfully launched the MF20 in Japan.

Both companies will closely work together to best exploit single molecule detection for cellular applications and to ensure the compatibility of Olympus' single molecule detection products with Evotec Technologies' cell biology systems.

"Evotec Technologies is delighted to intensify the long-standing collaboration with Olympus. We are convinced that Olympus is best positioned to successfully market our single molecule technologies to an even broader customer base," said Prof Carsten Claussen, CEO of Evotec Technologies. "At the same time the transaction allows Evotec Technologies to increase the focus of its own business on providing comprehensive solutions for automated cell biology. This strategy has already proven to be successful considering strong sales e.g. with our Opera(TM) analyser, both as a stand-alone system or integrated into a broader automated platform."

"Over the past years we have successfully marketed the MF10 and MF20 readers in Japan which have been jointly developed with Evotec Technologies. With the transaction announced today we are now in a position to build on this success and further broaden our drug discovery business," said Mr. Kazuhisa Yanagisawa, group president of Life Science Group, Olympus Corporation, Tokyo, Japan. "We are looking forward to the close collaboration with our long-lasting technology partner Evotec Technologies."

http://www.evotec.com

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