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Evotec Tech Sells Single Molecule Detection Technology, IP to Olympus

NEW YORK (GenomeWeb News) — Evotec Technologies has sold the “core” of its single molecule detection technology and transferred or licensed the related IP to Olympus, the company said today.
The move is in line with the Evotec division’s goal of focusing its business more on cell imaging and cell handling systems, the company said.

Evotec Tech will continue to market devices based on this IP portfolio and on supplies from Olympus as elements of its drug-discovery products, including its screening systems. The company will also continue to serve and support the entire existing customer base.

Financial terms of the deal were not disclosed, but Evotec said “certain revenues” previously planned in 2006 will be transferred to Olympus. The Evotec Tech business generated around €2.5 million ($3.2 million) in revenues last year and Evotec continues to anticipate between 0 percent and 5 percent of revenue growth in 2006 from its remaining business.
Also, Evotec said today on its website that total non-operating results in the second quarter increased by approximately €5 million to €6.5 million year over year “due to a profit from the sale of intellectual property assets by Evotec Technologies to Olympus as well as better results from currency hedging.”
Evotec Tech and Olympus have previously collaborated to develop the MF20 molecular interaction analytical system, which Olympus manufactures and markets in Japan.

”Both companies will closely work together to best exploit single molecule detection for cellular applications and to ensure the compatibility of Olympus’ single molecule detection products with Evotec Technologies’ cell biology systems,” the companies said today in a statement.

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