TVM Capital Portfolio Company, Evotec AG, Named M&A Advisor Global Healthcare Turnaround Company of the Year
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Evotec AG / TVM Capital Portfolio Company, Evotec AG, Named M&A Advisor Global Healthcare Turnaround Company of the Year processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Implementation of Turnaround Plan resulted in significant increase in revenue, a
reduction in R&D costs by 50% and a significant increase of shareholder value
Hamburg, Germany - 23 March 2010: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX) has been named the M&A Advisor Healthcare Turnaround Company of the Year
for the development and implementation of the 'Evotec 2012 - Action Plan to
Focus and Grow'. Elements of this Plan include:
o A reduction of R&D expenses by ca. 50% and SG&A expenses by ca. 15%
compared to the same period of the prior year, leading to a significant
improvement of the operating result
o Eight signed or renewed collaborations or research agreements since
the announcement of the restructuring
o Two completed acquisitions to further enhance company research
capabilities
o Despite significant restructuring, an increase in Evotec headcount by
approximately 300 people to 500, and
o An increase in shareholder value represented by a company market
capitalisation from ?60 million in March 2009 to ca. ?240 million in December
2009.
As a major shareholder, TVM Capital nominated Evotec and Dr Lanthaler for the
award and is pleased with the positive outcome given the strong nominee
finalists group.
"Werner refocused Evotec to be a revenue generating business, reduced the cash
burn significantly and substantially improved the company's market
capitalisation," said Helmut M. Schühsler, Managing Partner of TVM Capital. "We
have had the opportunity to work with him before when Werner served as CFO of
TVM Capital Portfolio Company Intercell where he also played a major role in
making the company a significant success for its venture investors."
This year, the finalist nominee pool for all M&A Advisor Turnaround Awards was
nearly 100, highlighting the best of the distressed investing, restructuring and
turnaround marketplace.
TVM Capital in Healthcare
TVM Capital currently manages committed capital of about 850 million Euros
($1.15bn) for investments in the life sciences and healthcare sector. The TVM
Capital healthcare and life science team builds on the expertise, experience,
international approach and demonstrated success in more than 110 previous life
sciences investments and more than 70 exits, including almost 40 IPOs from our
portfolio of companies. Twenty years of successful investing and value creation,
in traditional early and late-stage venture as well as growth capital, make TVM
Capital a preferred partner for rapidly growing companies in the life science
and healthcare industry. For more than 20 years, our business has been to invest
in the growth of exciting companies who are or aspire to be leaders in their
market segment, and to be resourceful and supportive strategic partners to
founders and managers alike.
TVM Capital
TVM Capital is an international growth and venture capital firm with a focus
investing in the growth of companies through innovation, international market
access, capital efficiency and operational excellence. The firm has a 25-year
investing track record in the European and U.S. markets derived from more than
260 investments in a broad range of companies in the life science / healthcare
and information technology fields. From this portfolio, the firm exited from
about 200 companies to date. The highly innovation driven investment focus of
TVM Capital has led to specialized, focused industry teams and dedicated
industry funds to serve the target markets best. TVM Capital is Private Equity
International's "German Private Equity Firm of the Year 2008", was ranked
18(th) in the list of the leading 100 venture capital companies in the world by
Red Herring Magazine in September 2009, and received the M&A Advisor
Corporate/Strategic Acquisition of the Year Award in December 2009 for the $300
million acquisition of portfolio company Direvo Biotech AG by Bayer HealthCare
AG in September 2008.
For more information, please visit: www.tvm-capital.com
Contact Evotec AG:
Dr Werner Lanthaler
Chief Executive Officer
Phone: +49.(0)40.56081-242
werner.lanthaler(at)evotec.com
TVM Capital contact
Nancy Saucier Monika Schlesinger
US Marketing Manager Marketing & Communications
TVM Capital TVM Capital Europe/MENA
T (617) 345-9320 T +49 (89) 998 992-0
M (617)595-8760 M ++49(179) 360 22 76
saucier(at)tvm-capital.com schlesinger(at)tvm-capital.de
Forward-Looking Statements
Information set forth in this press release contains forward-looking statements,
which involve a number of risks and uncertainties. Such forward-looking
statements include, but are not limited to, statements about our expectations
and assumptions concerning our strategic collaborations, our regulatory,
clinical and business strategies, the progress of our clinical development
programmes and management's plans, objectives and strategies. These 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. In particular, the risks and uncertainties include,
among other things: risks that product candidates may fail in the clinic or may
not be successfully marketed or manufactured; the risk that we will not achieve
the anticipated benefits of our collaborations, partnerships and acquisitions in
the timeframes expected, or at all; risks relating to our ability to advance the
development of product candidates currently in the pipeline or in clinical
trials; our inability to further identify, develop and achieve commercial
success for new products and technologies; the risk that competing products may
be more successful; our inability to interest potential partners in our
technologies and products; our inability to achieve commercial success for our
products and technologies; our inability to protect our intellectual property
and the cost of enforcing or defending our intellectual property rights; our
failure to comply with regulations relating to our products and product
candidates, including FDA requirements; the risk that the FDA may interpret the
results of our studies differently than we have; the risk that clinical trials
may not result in marketable products; the risk that we may be unable to
successfully secure regulatory approval of and market our drug candidates; and
risks of new, changing and competitive technologies and regulations in the U.S.
and internationally.
The list of risks above is not exhaustive. Our most recent Annual Report on Form
20-F, filed with the Securities and Exchange Commission, and other documents
filed with, or furnished to the Securities and Exchange Commission, contain
additional factors that could impact our businesses and financial performance.
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.
[HUG#1396519]
--- End of Message ---
Evotec AG
Schnackenburgallee 114 Hamburg Germany
WKN: 566480;ISIN: DE0005664809 ;Index:CDAX,HDAX,Prime All Share,TECH All Share,MIDCAP;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Freiverkehr in Niedersächsische Börse zu Hannover,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;
PDF of Press Release: http://hugin.info/131215/R/1396519/352803.pdf
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