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Evotec AG announces first nine-month 2017 results and corporate update

  • Strong operational and financial performance
  • Expansion of leading external innovation platform through acquisition of aptuit
  • Important milestone achievements and new ways of accelerating innovation

Hamburg, Germany, 08 November 2017:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) today reported financial results and corporate updates for the first nine months of 2017.

Financial performance reflects growth path

  • Group revenues: 42% increase to € 170.9 m (9M 2016: € 120.6 m);
    • EVT Execute revenues up 30% to € 165.1 m (9M 2016: € 126.6 m);
    • EVT Innovate revenues up 84% to € 33.2 m (9M 2016: € 17.9 m)
  • Adjusted Group EBITDA up 28% to € 39.3 m (9M 2016: € 30.6 m);
    • Adjusted EBITDA for EVT Execute of € 41.7 m (9M 2016: € 41.3 m);
    • Adjusted EBITDA for EVT Innovate of € (2.4) m (9M 2016: € (10.7) m)
  • R&D expenses at € 12.5 m (9M 2016: € 12.8 m)
  • Strong strategic liquidity position of € 88.8 m (after completion of Aptuit acquisition)

EVT Execute – Expansion and growth of high-quality services

  • Extension of value chain and high-quality development services following Aptuit acquisition
  • Cyprotex integration and performance proceeding according to plan
  • Multiple new and extended integrated drug discovery alliances, e.g. with Abivax, Blackthorn Therapeutics, Dermira, STORM Therapeutics and Tesaro (after period-end)
  • Significant progress within ongoing alliances (e.g. Bayer alliance in endometriosis: Start of second clinical Phase I study)
  • Indication extension and initiation of pre-clinical development of existing clinical asset with Bayer in new product franchise (undisclosed)

EVT Innovate – Very good scientific progress and important milestones

  • Important milestone achievements (Kidney disease alliance with Bayer, iPSC neurodegeneration alliance with Celgene, iPSC diabetes alliance with Sanofi)
  • Strong focus on expansion of iPSC platform through new strategic collaborations with Censo Biotechnologies, Fraunhofer IME-SP and Ncardia
  • Unique biobank approach through NURTuRE consortium in kidney diseases
  • Evotec joins NEPLEX consortium to accelerate the discovery of a novel drug discovery device to test drug candidates in human kidneys (after period-end)
  • Expansion of joint venture and strategic investment in Exscientia
  • Expansion of CKD Bayer alliance
  • Academic BRIDGE model gaining momentum: First North American BRIDGE established with MaRS Innovation in Canada (LAB150); two funding rounds completed in LAB282 projects (Oxford University)

Corporate

  • Acquisition of Aptuit: $ 300 m in cash (effective 11 August 2017)
  • Continued high-value strategic investments and company formations (e.g. Eternygen, Exscientia, Facio Therapies, Forge Therapeutics)
  • Loan facility issued by European Investment Bank of up to € 75 m to support Innovate R&D strategy
  • Novo Holdings A/S new strategic investor in Evotec holding >10%

Guidance 2017 confirmed

All elements of the financial guidance confirmed.

For more information , please find attached the full text of our press release or visit our website: http://www.evotec.com

Webcast/Conference Call

The Company is going to hold a conference call to discuss the results as well as to provide an update on its performance. The conference call will be held in English.

Conference call details

Date: Wednesday, 08 November 2017
Time: 02.00 pm CET (01.00 pm GMT/08.00 am EST)

From Germany:                +49 69 22 22 29 043
From France:                    +33 170 750 705
From Italy:                         +39 02 3601 3806
From UK:                            +44 20 3009 2452
From USA:                         +1 855 402 7766

Access Code:                      37969784#

A simultaneous slide presentation for participants dialling in via phone is available at http://www.audio-webcast.com/, password: evotec1117.

Webcast details

To join the audio webcast and to access the presentation slides you will find a link on our home page www.evotec.com shortly before the event.

A replay of the conference call will be available for 24 hours and can be accessed in Europe by dialling +49 69 22 22 33 985 (Germany) or +44 20 3426 2807 (UK) and in the USA by dialling +1 866 535 8030. The access code is 654573#. The on-demand version of the webcast will be available on our website: https://www.evotec.com/article/en/Investors/Finance/Financial-Reports-2015-2017/188/6/26.


About Evotec AG

Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic to meet the industry’s need for innovation and efficiency in drug discovery (EVT Execute). The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuroscience, diabetes and complications of diabetes, pain and inflammation, oncology and infectious diseases. On this basis, Evotec has built a broad and deep pipeline of more than 80 partnered product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term discovery alliances with partners including Bayer, CHDI, Sanofi or UCB and development partnerships with e.g. Sanofi in the field of diabetes, with Pfizer in the field of tissue fibrosis and with Celgene in the field of neurodegenerative diseases. For additional information please go to www.evotec.com and follow us on Twitter @EvotecAG.

Forward-looking statements

Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.


Topics: Corporate, Drug Development, Drug Discovery