Evotec Sells Single Molecule Detection Technology & IP Portfolio to Olympus


Evotec AG announced that its Tools and Technologies Division (Evotec Technologies GmbH) has sold the core of its Single Molecule Detection Technology and transferred or licensed the corresponding IP portfolio to Olympus Corporation, Tokyo, Japan. This transaction is a further step taken by Evotec Technologies to increasingly focus its business on providing cutting edge cell imaging and cell handling systems for the cell biology growth market.

Over the past years Evotec Technologies has developed a set of innovative confocal detection methods for single molecule drug discovery. This Technology & IP portfolio and the related know-how will now be licensed or transferred to Olympus. Evotec Technologies will continue to market devices based on this IP portfolio and on supplies from Olympus as elements of its drug discovery solutions (i.e. screening systems) and will continue to serve and support the entire existing customer base. However, certain revenues previously planned in 2006 will be transferred to Olympus. Adjusted for the sale of this part of its business which generated approximately EUR 2.5 million revenues with products and services in 2005, Evotec continues to anticipate 0 to 5 % revenue growth in 2006 on its remaining business. The net proceeds from this transaction have already been included in Evotec's latest cash guidance.

Both companies will closely work together to best exploit single molecule detection for cellular applications and to ensure the compatibility of Olympus' single molecule detection products with Evotec Technologies' cell biology systems.

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