Emerging Company in the Spotlight sponsored by JFK Communications.
BioNJ is pleased to shine the spotlight on one of our Innovation Members each month featuring their progress and work on behalf of Patients and their impact on the New Jersey life sciences ecosystem. This month’s Emerging Company in the Spotlight is Evotec.
So many of our Members are making a dramatic impact on our State’s innovation ecosystem. We celebrate you! Evotec is one such company.
Evotec was established in Germany in 1993 and has grown steadily through organic growth and acquisitions combined with a focus on providing high-quality R&D services to a broad-array of life science organizations. Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative programs with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists.
Evotec has had a presence in the U.S. since 2011. The Evotec U.S. headquarters were moved from South San Francisco to Princeton in 2017. Since opening the Princeton office, Evotec is rapidly expanding its square footage and aggressively hiring scientific and technology personnel at all levels. In addition to the Princeton headquarters, Evotec also has facilities in Branford, CT and Watertown, MA.
“We pride ourselves on a strong and diverse corporate culture that attracts and retains the most talented scientists,” said Ryan Brady, Executive Vice President Business Development and Head of U.S. Operations. “We currently have 2,200 employees globally, with more than 60 nationalities represented and currently have more than 115 employees in the U.S.”
A Business Model Focused on Partnership and Quality
Evotec offers end-to-end platform solutions for life sciences organizations of every size. “Recent acquisitions of Cyprotex (2016) and Aptuit (2017) have significantly enhanced our ability to work with our partners from early target validation through early development including IND enabling studies,” said Brady. “We stand ready to work with any partner requiring support on challenging science — providing a comprehensive platform supporting research and development from early target validation, through hit to lead, lead optimization through IND enabling studies.”
A Two-Pronged Approach
Evotec is built on two business units. Evotec’s EVT Execute platform which includes a comprehensive platform of discovery research services and early development services. EVT Innovate is Evotec’s second business segment, which operations on the same research platform.
“Through EVT Innovate, we are reinvesting in the identification and development of internal projects and IP,” said Brady. “We expect to invest between $20m and $30m in research & development in 2018 on our internal projects with the goal of leveraging these assets to lead to strategic partnering, licensing or creating of spin-outs with the industry from venture capitalists, foundations, biotech and pharma companies.”
Evotec’s goal is to develop and co-own a pipeline with superior platforms and first-in-class targets. To date, Evotec has established partnerships on more than 80 different co-owned projects spanning a range of therapeutics areas.
In addition, Evotec is establishing BRIDGES, a novel type of translational medicine partnerships, which are designed to advance ground-breaking academic science towards commercialization through collaborations with world-class academic institutions and financing partners. The first North American BRIDGE was initiated with MaRS Innovation as the financing partner in Toronto, Canada, and 15 universities and hospitals as the academic partners. Recently our BRIDGE with Fred Hutchinson Cancer Center in Seattle, and Arix as the financing and company building partner, was announced, and additional BRIDGEs will follow still this year.
Evotec’s U.S. goals are aligned with the company’s “Action Plan 2020” goals. These goals focus on sustainable growth and profitability, partnering across biotech, pharma and academia, and identifying and building a co-owned pipeline. “We are positioned as an ideal R&D partner for any life sciences organization — commercial or academic — regardless of size,” said Brady. “And we cannot achieve our goals without staffing here in the U.S. We are currently hiring scientists at all levels.”
For more information about Evotec, please visit: www.Evotec.com.