Skip to main content
Premium Trial:

Request an Annual Quote

Evotec Completes DeveloGen Acquisition

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Evotec today said that it has completed its acquisition of DeveloGen, a German biopharmaceutical discovery and development firm, in a deal worth up to €14 million ($17.9 million).

Hamburg, Germany-based Evotec inked the agreement to acquire DeveloGen in July. It said that as of closing of the deal, the sellers of 99.3 percent of DeveloGen's shares had transferred their shares to Evotec.

Evotec said that it has issued 6,750,014 of its shares from its authorized capital as part of the consideration for the acquisition.

The acquisition adds two complementary alliances to Evotec's portfolio of core assets, including DeveloGen's integrated discovery alliance with Boehringer Ingelheim on small molecules to treat type 2 diabetes. Evotec will receive ongoing research funding from the alliance and is eligible for potential milestone payments of up to €237 million for the lead compound and royalty payments, it said.

The Scan

Study Finds Sorghum Genetic Loci Influencing Composition, Function of Human Gut Microbes

Focusing on microbes found in the human gut microbiome, researchers in Nature Communications identified 10 sorghum loci that appear to influence the microbial taxa or microbial metabolite features.

Treatment Costs May Not Coincide With R&D Investment, Study Suggests

Researchers in JAMA Network Open did not find an association between ultimate treatment costs and investments in a drug when they analyzed available data on 60 approved drugs.

Sleep-Related Variants Show Low Penetrance in Large Population Analysis

A limited number of variants had documented sleep effects in an investigation in PLOS Genetics of 10 genes with reported sleep ties in nearly 192,000 participants in four population studies.

Researchers Develop Polygenic Risk Scores for Dozens of Disease-Related Exposures

With genetic data from two large population cohorts and summary statistics from prior genome-wide association studies, researchers came up with 27 exposure polygenic risk scores in the American Journal of Human Genetics.