Sep 19th 2013 - Edison Investment Research today published a report on Evotec entitled "Fast Forward With Fresh Funds". In summary, the report says:
Evotec has raised €30m in new equity to accelerate its CureX/TargetX strategy, which is focused on discovery alliances with academia. The additional capital will allow Evotec to build more alliances more rapidly, thereby enhancing its long-term growth prospects. There are now three CureX and two TargetX initiatives, one of which (CureBeta) has already resulted in a major alliance with Janssen. We expect further collaborations and/or deals in H213. Our valuation increases from €451m to €480m.
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