Date: 2017-09-18
Type of information: Loan
Company: Evotec (Germany)
Investors: European Investment Bank (EIB)
Amount: up to € 75 million
Funding type: loan
Planned used:
- The loan facility will support Evotec's Innovate strategy. The core of Evotec's business is research and development to support pharma and biotech companies, venture capital groups, academic institutions as well as foundations and not-for-profit organisations. Within its EVT Innovate segment, Evotec is building a sustainable pipeline of partnered disease-modifying product opportunities. Its R&D activities are based on cutting-edge science, highest quality drug discovery platforms (e.g. Evotec's integrated patient-derived induced pluripotent stem cells (iPSC) platform) and innovative collaboration models such as the BRIDGE initiatives from Academia to Pharma. Since 2010, Evotec has built a pipeline of over 80 partnered product opportunities through such partnerships, spin-offs or equity investments.
Others:
- • On September 8, 2017, Evotec announced that the European Investment Bank (EIB)has granted Evotec an unsecured loan facility of up to € 75 m to support Evotec's Innovate strategy.
- The loan agreement is operated under the European Fund of Strategic Investments (EFSI). EFSI is an essential pillar of the Investment Plan for Europe, under which the EIB and the European Commission are working as strategic partners to boost the competitiveness of the European economy. The transaction is the first large success-sharing investment under EFSI in any industry anywhere in Europe. Furthermore, it represents EFSI's first contingent investment, whereupon the bank shares the risk of its client's research & development (R&D) success.
- The EIB funding specifically supports Evotec's Innovate strategy through a unique, innovative and flexible financing structure including a moderate reward-sharing component for the EIB. The total loan financing will be invested into EVT Innovate R&D over a period of four years and will mature seven years after draw down. The transaction has been developed in cooperation with kENUP Foundation, a NGO supporting Innovation in Europe.
Therapeutic area: Technology - Services
Is general: Yes
