Evotec OAI Buys Spin-Off Evotec Neurosciences; Raises €27M in VC Cash

Evotec OAI said this week that it has acquire the remaining 78 percent of spin-off company Evotec Neurosciences not already owned by Evotec OAI.

The acquisition will constitute a share-for-share exchange transaction in which Evotec will issue approximately 14.3 million new ordinary shares, the company said. Evotec also said that the transaction is valued at €49 million (US $64.7 million).