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MarketScreener Homepage  >  Equities  >  Xetra  >  Evotec SE    EVT   DE0005664809


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Evotec : completes acquisition of Just Biotherapeutics

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07/04/2019 | 05:32am EDT

Hamburg - Evotec SE (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) today announced that the strategic transaction to acquire Just Biotherapeutics ('Just.Bio'), signed on 20 May 2019, has been completed.

The acquisition accelerates Evotec's long-term strategy to be the industry partner of choice for external end-to-end innovation, strengthening Evotec's multimodality approach to R&D.

Evotec acquired Just.Bio to integrate their cutting-edge machine-learning technologies and agile, flexible methods for the design, development, and manufacturing of biologics into Evotec's drug discovery offerings. Just. Bio's approx. 95 employees and its state-of-the-art biologic development and manufacturing site located in Seattle, WA, USA, will expand Evotec's US footprint. Just.Bio's capabilities and expertise comprise an in-house, integrated technology platform, J.DESIGN, enabling smart and efficient biologics' drug development from design and lead optimisation to manufacturing: J.MD is a technology-based process development tool using Abacus, a machine learning-based computer-aided design tool, to predict and select optimal molecules for further development

JP3 includes lab and computational tools for rapid development of a high-yielding manufacturing process along with a cGMP early clinical manufacturing facility

Significant further potential lies in the company's J.POD technology for flexible and modular, larger scale manufacturing of clinical and commercial-stage biologics

Transaction structure summary

In less than four years, Just.Bio has been able to build their J.DESIGN platform and attract a diversified customer portfolio resulting in strong financial growth with reported 2018 revenues of approx. $ 20 m. Evotec will pay a total consideration of up to $ 90 m including potential earn outs in the next three years. The initial consideration upon closing is $ 60 m subject to customary net debt and working capital adjustments. The acquisition of 100% of the issued and outstanding equity interests of the company will be paid in cash to a syndicate of institutional investors of ARCH Venture Partners, Merck & Co., Lilly Asia Ventures and the Bill & Melinda Gates Foundation. The acquisition will add to Evotec's revenue growth and will strengthen Evotec's overall strategic vision. Just.Bio will be financially fully consolidated under the Evotec Group.

Dr Werner Lanthaler, Chief Executive Officer of Evotec, said: 'We are pleased to have been able to swiftly close the acquisition of Just.Bio. With the integration of Just.Bio's expertise in biologics and their outstanding human talent, we will accelerate our ability to build better molecules with cutting-edge technologies for our customers as well as our own pipeline. We warmly welcome the Just.Bio employees to the Evotec Group.'

Dr James Thomas, EVP, Global Head, Biotherapeutics, President US Operations of Evotec, commented: 'Starting with a small group of creative and passionate employees, we've made remarkably fast progress building a state-of-the-art technology platform for expanding global access to biologics. Joining forces with Evotec will build upon these accomplishments and accelerate expansion of our advanced capabilities in Seattle, a growing hub of technology innovation. We are thrilled to be part of the excellent Evotec global team.'


Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.


Tel: +49. (0)40.560 81-255

Fax: +49. (0)40.560 81-333

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (EUR)
Sales 2019 420 M
EBIT 2019 59,7 M
Net income 2019 41,2 M
Finance 2019 36,2 M
Yield 2019 -
P/E ratio 2019 69,8x
P/E ratio 2020 46,7x
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Mean consensus OUTPERFORM
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