Evotec AG (Frankfurt:EVT) (TecDAX) today announced the Closing of the agreement to acquire DeveloGen as announced in detail on 14 July 2010.
Following the successful fulfilment of various Closing conditions, the sellers of 99.3% of the shares in DeveloGen AG today transferred their shares to Evotec AG. Evotec AG issues 6,750,014 new Evotec Shares from its authorized capital as part consideration for the transaction. Following the registration of these shares at the trade register, Evotec's issued share capital will increase to €115,588,729.
The transaction adds two complementary alliances - one with Boehringer Ingelheim and one with Andromeda (Teva) - to Evotec's portfolio of core assets. In addition, it augments and complements Evotec's high-end drug discovery platform and capability with DeveloGen's target discovery, validation and in vivo/in vitro pharmacology expertise and adds core disease biology know-how in metabolic diseases and endocrine disorders. These skills further enhance Evotec's ability to deliver high quality, innovative solutions to its partners on a global scale.