Hamburg, Germany | Abingdon, UK - Evotec OAI AG (NM: EVT), a partner for integrated high-value-added drug discovery services to the pharmaceutical and biotechnology industries, announced today that Direvo Biotech AG has raised EUR 10.5 million in its Series B equity financing. In 2000, Direvo was founded by Evotec OAI and the three private founders Dr. Koltermann, Dr. Kettling and Dr. Stephan.
Direvo is a leading company in screening-based directed evolution and applies its integrated proprietary technologies to the development of better biopharmaceuticals, industrial enzymes, chemical biocatalysts and enzymes for food and feed. The company was established in the year 2000 and collaborates with world-leading companies such as Danisco A/S, Novozymes A/S and Evotec OAI AG.
With Danisco Venture, Copenhagen, as lead investor and TVM (Techno Venture Management), Munich, as co-lead investor, the Cologne-based German biotechnology company Direvo Biotech AG has raised EUR 10.5 million in new equity capital in its Series B financing. Further investors in this round are SK Kapitalbeteiligungsgesellschaft Köln mbH, New York based Sanders Morris Harris and the private investors Nobel laureate Prof. Manfred Eigen, Dr. Ruthild Winkler-Oswatitsch, Prof. Heinrich M. Schulte as well as all other investors from the Series A financing.
"We are extremely pleased to have attracted such a diverse group of new investors - a committed industrial investor with profound knowledge in one of our target markets, a representative of the local finance industry and an experienced US investor with a broad network - in combination with the excellent continuing support of our existing investors," stated Dr. Andre Koltermann, co-founder, President and CEO of Direvo. "Raising this volume of funding in today's challenging capital markets with a clear up-round encouraged us to continue with Direvo's business strategy. The funding will secure the growth of the company for the next years and will support accelerated development of own and collaborative products."
Lars Dybkjær, Investment Manager, Danisco Venture: "We find both the technology and the management team behind Direvo very strong, and we are confident that this is a good investment. As Danisco is heavily engaged in both food and feed enzymes, the strategic fit is obvious. We look forward to working with the Direvo team."
Dr. Hubert Birner, General Partner, TVM: "In December 2000 we invested in a highly motivated team, which executed the business plan along pre-defined milestones. Now the endorsement of Direvo by industrial partners confirms our strategy of investing in early stage technologies which have near- to mid-term market potential."
About Evotec OAI AG
Evotec OAI offers a comprehensive range of high-value added services and products required to increase the efficiency and at the same time reduce the risk in the identification of new drugs. By integrating proprietary state-of-the-art technologies and processes in biology, chemistry and screening, the Company has established a unique position for all the critical elements in the drug discovery and development process - from target to clinical development. Due to its extensive know how and experience Evotec OAI is the ideal partner for pharma and biotech companies world-wide. To date, Evotec OAI has completed over 1,200 projects with 150 companies, including all of the top 20 global pharmaceutical companies and major biotechs.
The Company employs more than 600 people, primarily at its two main sites at Hamburg in Germany and Abingdon in the UK. Subsidiaries are located in Europe and North America. In 2001 Evotec OAI achieved revenues of EUR 63.2 million. Evotec OAI shares are listed on the Neuer Markt of the Frankfurt Stock Exchange since November 1999 (NM: EVT).
About Direvo Biotech AG
Direvo Biotech AG based in Cologne, Germany, is a leading company in screening-based directed evolution and applies its integrated proprietary technologies to the development of better biopharmaceuticals, industrial enzymes, chemical biocatalysts and enzymes for food and feed. With its rapid and highly flexible screening-based directed evolution process, Direvo is focused on several multi-billion dollar markets. The company has collaborations with Danisco, Novozymes and Evotec OAI and a pipeline of numerous potential products. In 2000, Direvo was founded by Evotec OAI and the three private founders Dr. Koltermann, Dr. Kettling and Dr. Stephan. The company currently employs a staff of 40. For further company information, log onto Direvo's Web site on the Internet at www.direvo.com.
About Danisco Venture
Danisco Venture is a corporate venture unit within Danisco A/S - one of the world's largest producers of ingredients for the food and feed industry. Danisco Venture focuses on creating significant value growth by investing in total DKK 500 million (approx. EUR 67 million) in ventures with high value-added products, services or technology platforms, which are relevant to Danisco. For further company information, log onto Danisco Venture's Web site on the internet at www.danisco.com/venture.
Contacts:
DIREVO Biotech AG
Christine Kasper
Public Relations
Phone: + 49 221 8887-160
Fax: + 49 221 8887-111
E-Mail: kasper@direvo.com
Danisco Venture
Anders Wilhjelm
Vice President Danisco Venture
Phone: + 45 32 66 22 97
Carsten Sivertsen
Media Relations Manager
Phone: + 45 32 66 20 49
Mobile: + 45 2145 2034
E-Mail: sfcsi@danisco.com
Evotec OAI: Direvo Raises EUR 10.5 Million in Series B Financing
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