Dubai: Abu Dhabi's Mubadala is pumping 200 million euros into Evotec SE, a pharma company that specialises in bringing medical breakthroughs faster to market.
In this private placement, Mubadala is subscribing for about 5.6 per cent of outstanding Evotec shares. Evotec’s existing shareholder, Novo Holdings, also will invest € 50 million to support Evotec’s accelerated growth ambition and to reinforce its ownership to 11 per centof outstanding shares.
Evotec, which is listed in Frankfurt, will issue 11.47 million new shares to Mubadala Investment Company and Novo Holdings, thus increasing itss cash reserves by 250 million euros. Evotec has more than 3,400 employees at 14 sites in Germany, the US, France, Italy, UK, and Austria.
The company is currently evaluating opportunities such as:
* Acceleration of the company’s global infrastructure built-up strategy in biologics, and investments in prediction technologies for biologics;
* Investments in novel cell and gene therapies in multiple indications;
* Investments in greater access to patient derived material and data for precision medicine processes in drug discovery and drug development;
• Investments in the company’s proprietary technology platforms, such as iPSC and machine learning technology;
* Expansion of footprint in the US and Europe; and
* Acceleration of the company's translational strategy from academia to industry and equity participation strategy for highly innovative assets.
Camilla Macapili Languille, Head of Pharma & Medtech at Mubadala Investment Company, said: “We are excited to partner with Evotec, who we see as one of the global pioneers for drug discovery innovation. We have been impressed by the company’s distinctive business model, their proprietary technological platforms and the unique role they play in the rapidly growing universe of pharmaceutical & biotech R&D – an area whose importance is acutely highlighted in the current environment."