SOUTH SAN FRANCISCO, Calif., May 1 /PRNewswire-FirstCall/ -- Renovis, Inc. (Nasdaq: RNVS) announced today that its stockholders approved the adoption of the merger agreement with Evotec AG (Frankfurt Stock Exchange: EVT) at a special meeting of stockholders held today. The merger is expected to close by May 5, 2008.
In the transaction, each issued and outstanding share of Renovis common stock will be automatically converted into the right to receive 0.5271 of an American Depositary Share (ADSs) of Evotec, with each ADS representing two ordinary shares of Evotec, such that each issued and outstanding share of Renovis common stock will be exchanged for ADSs representing 1.0542 Evotec ordinary shares.
About Renovis, Inc
Renovis is a biopharmaceutical company focused on the discovery and development of drugs for major medical needs in the areas of neurological and inflammatory diseases. The Company's proprietary research programs focus on the purinergic receptors, P2X3 and P2X7, for the potential treatment of pain and inflammatory diseases. In addition, Renovis has worldwide collaboration and license agreements with Pfizer to research, develop and commercialize small molecule vanilloid receptor (VR1) antagonists.
This communication contains certain forward-looking statements. All
statements, other than statements of historical facts, regarding the
likelihood and timing of the completion of the business combination
transaction involving Evotec and Renovis, the conversion of Renovis shares
into a right to receive Evotec shares, the anticipated benefits of such
transaction and the plans and objectives of management are forward-looking
statements and are based on management's current e
|SOURCE Renovis, Inc.|
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