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GEN News Highlights : May 4, 2012

Evotec Inks €7.7M Compound Management Contract with EPA

Firm’s San Francisco operation will provide bioactivity profiling of ToxCast library.

The U.S. Environmental Protection Agency (EPA) awarded Evotec a multiyear, €7.7 million (approximately $10 million) compound management contract. The deal follows on from an initial contract with EPA in 2007. Under terms of the new agreement, Evotec’s San Francisco operation will provide chemical procurement, analysis, and sample preparation and management services to the EPA’s National Computational Center for Toxicology (NCCT). The services will support bioactivity profiling of EPA’s ToxCast™ (prioritization of Environmental Relevant Chemicals) compound library.

“Providing key, efficient scientific infrastructures such as compound management is a key element of Evotec Execute,” comments Mario Polywka, Ph.D., Evotec COO. “This contract provides further long-term revenue and profitability for Evotec’s important compound management services business in San Francisco, which was acquired from BioFocus in 2011.”

Evotec bought BioFocus’ San Francisco-based compound management business for €10.25 million up front and another potential €2.25 million in performance-related earn-out payments.