Opportunistic transformation

Two and a half years ago, the management team at Evotec AG decided that a hybrid services/drug development model didn't work and opted to become a pure-play CNS company. The first signal of the transition was the reacquisition of its Evotec Neurosciences spinout, which it had sold to venture capitalists. Late last month, Evotec said it would acquire Renovis Inc., a CNS company focused on pain and inflammation, to fill holes in its pipeline.

To date, all of Evotec's clinical compounds have been in-licensed from Roche (SWX:ROG, Basel, Switzerland), including lead compound EVT 201, a partial GABA A receptor agonist in Phase II studies for chronic insomnia. ...