Munich – Biotechnology company Evotec AG has been granted a loan of EUR 75 million by the European Investment Bank (EIB) to support its Innovate strategy. Evotec plans to use the financial backing to drive research and development on active ingredients for pharmaceutical products. The loan is guaranteed by the European Fund for Strategic Investment (EFSI), a key element of the Investment Plan for Europe – also known as the Juncker Plan. This is the first major success-dependent finance arrangement with an EFSI guarantee. It is also the first such loan with an EFSI guarantee in which the bank shares the risk associated with its customer's research and development activity.
A CMS team headed by lead partner Stefan-Ulrich Müller advised Evotec on all legal aspects of the loan. At the end of 2016, a team led by the same Munich-based CMS partner also advised biotech firm Curetis on a strategically important loan from the European Investment Bank.
Evotec’s core business is research and development for pharmaceutical and biotech companies, academic institutions, foundations, non-profit organisations and risk capital companies. As part of its Innovate strategy, Evotec is also building a pipeline of partner programmes for disease modifying therapies. The company was established in 1993 and is a leading provider of research into active ingredients. Evotec is headquartered in Hamburg. Other key operating locations are Göttingen and Munich, as well as the UK, the US, France, Italy and Switzerland. Evotec has more than 2,000 employees worldwide.
Stefan-Ulrich Müller, Lead Partner
Dr Tilman Weichert, Counsel
Dr Tobias Kallmaier, Senior Associate
Anton Hieber, Associate, all Corporate
Inhouse at Evotec
Dr Christian Dargel, General Counsel