Volume 85 Issue 39 | p. 45 | Concentrates
Issue Date: September 24, 2007

Evotec To Acquire Drug Firm Renovis

Department: Business
News Channels: Nano SCENE

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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