This transaction represents an important capacity expansion for Evotec. It adds a complementary drug discovery operation and capability in the field of science-driven chemistry work in a cost-effective location to Evotec's already world-leading discovery platform and efficiently increases its ability to deliver high quality, know-how driven drug discovery and development services to its partners on a global scale.
"It is important to strengthen the strategic position of Evotec's Discovery Alliance Business with the best technology offering and the most efficient global reach and cost strategy. This is a very important step in our strategy "Evotec 2012 - Action Plan to Focus and Grow", said Werner Lanthaler, CEO of Evotec.
"With this acquisition we reinforce our strategic commitment to deliver the highest value, know-how driven services and build the strongest innovation alliances with our customers. Evotec continues to accelerate its strong track record in Innovation and Process Excellence with the best scientists in the industry," commented Mario Polywka, COO of Evotec.
"We are happy to undertake this strategic partnership with Evotec in the development of RSIPL and believe in the growth strategy of the Discovery Alliance Business of Evotec. The partnership with Evotec would lend substantially to the growth of RSIPL and we look forward to a successful association with them", commented Krishna Datla, Managing Director of DIL.
RSIPL, located in Thane near Mumbai, was founded in 2004 and currently employs approximately 160 employees. The company is a 100% subsidiary of DIL, a publicly listed company on the Bombay Stock Exchange. Following the transaction, RSIPL will be integrated, as Evotec India, into the value chain of Evotec's operations in Hamburg (Germany) and Abingdon (UK). The deal is expected to close latest in early September, 2009. Evotec has a call option to purchase the remaining 30% from DIL in the future in the event of a change-of-control.
Despite this and the recent acquisition of the zebrafish technology platform, Evotec maintains it guidance to have more than EUR 65 million in liquid funds available by the end of 2009.
About RSIPL
Incorporated in 2004, Research Support International Private Limited ('RSIPL') is a 100% subsidiary of DIL Ltd (formerly Duphar-Interfran Ltd.) providing Drug Discovery & Development services. RSIPL is a vibrant organization committed to provide a strong & reliable fundamental research platform to enable its customers to accelerate their drug discovery programs efficiently and cost effectively.
RSIPL's uses its world class Infrastructure and Facilities to synthesis virtually all types of organic compounds from milligram to kilogram scale.
RSIPL was conferred the "Partner of Choice in Contract Research - Chemistry Based Services" award for the year 2007 by Frost & Sullivan in recognition of its experience in offering a organic synthesis services to pharmaceutical and biotech customers worldwide.
About DIL
Founded in 1951, DIL has built successful partnerships with global players in the Life Sciences Industry.
Apart from RSIPL, DIL's ventures in the Pharmaceutical Industry include commercial scale manufacturing and marketing of bulk drugs, intermediates, formulations & enzymes. DIL also engages in proprietary Research & Development of its own molecules, formulation, enzyme and enzyme application.
Contact
Hans-Christoph StadelMCF Corporate Finance GmbH
Am Sandtorkai 30
20457 Hamburg
Tel: 040 / 398 03 0 Fax: 040 / 398 03 101