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Evotec Announces Financial Results for 2007
Date:3/28/2008

HAMBURG, Germany and OXFORD, England, March 28 /PRNewswire-FirstCall/ -- Evotec AG (Frankfurt Stock Exchange: EVT) today reported financial results according to IFRS for the year ended December 31, 2007.

Financial results for the year were driven by strong progress in the Company's clinical pipeline and four major corporate transactions, the acquisition of Neuro3d, the sale of Evotec Technologies (ET), the sale of the Chemical Development Business (CPD) and the proposed acquisition of Renovis. Including the now discontinued activities, the company achieved revenues of EUR 54.4m (2006: EUR 84.7m) and a net loss of EUR 11.2m (2006: EUR 27.7m). While 2006 included both, ET and CPD for the full year, in 2007, ET was not included anymore and CPD only for eleven months.

In light of the Company's recent divestments, the remainder of this release focuses on the financials of the continuing business of Evotec (referred to as the 'continuing business'). In its continuing business the Company achieved revenues of EUR 32.9m and had total cash and investments of EUR 93.7m respectively, meeting its guidance for 2007 of EUR 30-35m of revenues and EUR 93-98m of cash.

2007 Highlights:

Completion of the corporate development plan:

- EUR 18.9m through the acquisition of Neuro3D, S.A. received

- Evotec Technologies sold to PerkinElmer for EUR 23.9m

- Chemical Development Business sold to Aptuit for EUR 42.5m

- Library business transferred to joint venture with RSIL, India

- Agreement to acquire Renovis, Inc., subject to Renovis

stockholder approval

CNS pipeline reached significant value inflection points:

- Positive data from two Phase II trials evaluating EVT 201

strengthening confidence in EVT 201's potential advantages over

competitive insomnia therapies

- Phase I safety data for EVT 302 revealed good tolerance up to the

highest doses of the potential smoking
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SOURCE Evotec AG
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Related biology technology :

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2. Evotec AG: Fiscal Year 2007 Results Presentation on March 28, 2008 Live on the Internet
3. Evotec to Present at the Cowen and Company 28th Annual Health Care Conference in Boston
4. Spermatech Selects Evotec as Partner for High-Throughput Screening and Lead Discovery
5. Evotec Expands Collaboration With InterMune
6. Evotec Starts Phase II in Smoking Cessation with EVT 302
7. Evotec Extends Ongoing Collaboration With CHDI Worth up to US$ 37 Million
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9. Evotec Provides Update on Planned NASDAQ Listing in the Context of its Announced Acquisition of Renovis
10. Evotec Appoints Mario Polywka and Klaus Maleck to the Management Board
11. Evotec Reports Third Quarter 2007 Results
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