Evotec Ag Stock Price, News & Analysis

Evotec has secured a €150 million unsecured loan from the European Investment Bank (EIB) to enhance its R&D activities, make equity investments, and construct a new biologics manufacturing facility named J.POD in Toulouse, France. This follows a previous loan of €75 million granted in 2017. The funding aims to support innovative research in underserved therapeutic areas and is expected to create over 200 jobs in the region. The financing agreement reinforces Evotec's commitment to advancing precision medicine and expanding its global access to therapeutics.

Evotec SE has announced an extension and expansion of its collaboration with Related Sciences, focusing on advancing transformational new medicines through 2030. This partnership, initiated in early 2021, currently oversees over 15 drug discovery programs, leveraging Evotec's extensive expertise in integrated drug discovery and A.I./M.L. capabilities. The collaboration includes the discovery of covalent inhibitors, enhancing their multi-modality portfolio. Although the financial specifics of the agreement were not disclosed, Evotec is set to receive milestones, royalties, and an equity stake in RS assets developed under this partnership.

Evotec SE has appointed Laetitia Rouxel as its new Chief Financial Officer (CFO) effective April 1, 2023, replacing Enno Spillner. The Supervisory Board expressed gratitude for Spillner's contributions to the company's growth and success, including major financings and the NASDAQ listing. Rouxel brings over 25 years of experience in finance across various sectors, having held leadership roles at Pfizer, Danone, and Coty. She aims to leverage innovation to further drive Evotec's sustainable growth. The company focuses on drug discovery and development, boasting a portfolio of over 200 R&D projects targeting multiple therapeutic areas.

Evotec SE has entered a strategic collaboration with Janssen Biotech, Inc. to develop innovative immune-based therapies for oncology. This partnership, facilitated by Johnson & Johnson Innovation, allows Evotec to leverage its integrated discovery and development capabilities. The collaboration includes an undisclosed upfront payment, potential research and commercial milestones exceeding US$ 350 million, and tiered royalties on developed products. While Janssen will lead the clinical development, Evotec will focus on pre-clinical R&D and manufacturing.

Evotec SE has expanded its collaboration with Bristol Myers Squibb, adding two new drug discovery projects and designating a target-based program for development. This progress triggers total payments of US$ 26 million to Evotec. The collaboration, initiated in December 2016, aims to find disease-modifying treatments for neurodegenerative diseases, addressing a significant unmet medical need. Dr. Cord Dohrmann emphasized the ongoing success and productivity of this six-year partnership.

Exscientia (NASDAQ: EXAI) has announced a breakthrough in identifying patient responders to its A2A receptor antagonist, EXS-21546. Highlighting new data, the company revealed the adenosine burden score (ABS) that predicts the effectiveness of the drug in combating tumor immunosuppression. Exscientia is set to confirm ABS's validity in its upcoming IGNITE-AI Phase 1/2 trial, which combines '546 with a checkpoint inhibitor for patients with relapsed renal cell carcinoma and non-small cell lung cancer. This research will be presented at the ESMO Immuno-Oncology Congress from December 7-9 in Geneva.

Exscientia announced the approval of the IGNITE-AI clinical trial for EXS-21546, an A_2A receptor antagonist, targeting relapsed/refractory renal cell carcinoma (RCC) and non-small cell lung cancer (NSCLC). The trial aims to enroll up to 110 patients to assess safety, efficacy, and pharmacokinetics. Notably, a unique biomarker signature will guide patient selection. The trial's first phase will establish the maximum tolerated dose, followed by an expansion phase to confirm efficacy. This is a significant step for Exscientia, enhancing its precision medicine approach.

Evotec SE, a leading life science company, reported a 19% revenue increase to €510.8 million for the first nine months of 2022, despite lower milestone payments compared to 2021. The base business grew by 27% to €502.7 million. Adjusted EBITDA decreased to €44.6 million due to high expansion costs and inflated energy prices. The company also announced multiple drug discovery agreements and launched its multi-omics data analysis platform PanHunter. The full-year revenue outlook remains unchanged, targeting between €715-735 million.

Evotec SE will announce its financial results for the first nine months of 2022 on November 9, 2022. A conference call will be held on the same day at 2:00 PM CET to discuss these results and provide a performance update. Participants can join via phone or through an audio webcast. Evotec operates globally with over 4,500 employees and focuses on discovering and developing therapeutics across various therapeutic areas, including neurology and oncology.