Service Firm Evotec Acquires DeveloGen | July 19, 2010 Issue - Vol. 88 Issue 29 | Chemical & Engineering News
Volume 88 Issue 29 | p. 19 | Concentrates
Issue Date: July 19, 2010

Service Firm Evotec Acquires DeveloGen

Department: Business
Keywords: diabetes, small-molecule drugs

Evotec, a drug discovery and contract research firm, has agreed to acquire DeveloGen, a developer of small-molecule drugs based in Göttingen, Germany. Evotec will pay about $18 million and make future performance-related payments. Formed in 1997, DeveloGen has alliances with Boehringer Ingelheim on small-molecule diabetes treatments and with Andromeda Biotech on a synthetic peptide for diabetes. Evotec CEO Werner Lanthaler says the purchase adds to the firm’s list of high-value partnerships.

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