Evotec OAI Acquires Evotec Neurosciences GmbH

Evotec OAI AG, the Hamburg-based drug discovery and development company, has announced the acquisition of the outstanding 78 percent of Evotec Neurosciences not already owned by Evotec. ENS discovers and develops therapeutics for the treatment of Alzheimer's disease and other central nervous system (CNS) disorders with high unmet medical needs. The acquisition will be effected through a share-for-share exchange transaction in which Evotec will issue approximately 14,300,000 new ordinary shares. The transaction values ENS at Euros 49 million (including approximately Euros 20 million of ENS cash).

BioSpace (http://www.biospace.com/news_story.cfm?StoryID=19295020&full=1)