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Evotec adds drugs in Renovis buyout

Germany's Evotec is boosting its pipeline to five compounds with the acquisition of Renovis for $152 million in an all-stock transaction. An insomnia drug is slated to begin a human clinical trial by the end of next year. Evotec says it will seek a NASDAQ listing for the merged operation, which should help it buy out more drug developers.

"By combining Evotec's drug discovery and development know-how with Renovis' medicinal chemistry and target validation expertise, we expect to form a global biopharmaceutical company with world-class discovery capabilities," said Evotec Chief Executive Jorn Aldag.

- see the release on the buyout
- read the report from the International Herald Tribune

Related Articles:
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Evotec touts early data. Report
Renovis pares work force in restructuring. Report
Renovis, Pfizer to collaborate on pain research. Report

More stories about Pfizer   insomnia   darmstadt germany   Evotec   CEO   Alzheimer's   biopharmaceutical company   Renovis  

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