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Business

Evotec To Acquire Drug Firm Renovis

September 24, 2007 | A version of this story appeared in Volume 85, Issue 39
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The German drug discovery firm Evotec has agreed to acquire Renovis, a South San Francisco biotech company focused on pain and inflammatory disease drugs. The all-stock transaction, valued at about $152 million, is expected to create a company with three clinical drug candidates and a strong preclinical pipeline. The proposed deal follows a period of divestment for Evotec. The company sold its technologies business to PerkinElmer this year and recently announced the sale of its chemical development business to Aptuit (C&EN, Sept. 17, page 17).

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