Munich – Evotec SE, a drug discovery and development company, has established Breakpoint Therapeutics GmbH as a spin-off. The new company holds a portfolio of projects for developing oncology drugs based on the modulation of certain cellular signalling pathways referred to as DNA damage responses. The spin-off is intended to advance early-stage discovery projects for cancer medication initiated at Evotec. The first financing round of EUR 30 million is being provided by an international venture capital consortium of investors led by investment company Medicxi, Taiho Ventures and Evotec itself. Fewer than 50% of the shares remain in the possession of the parent company.
A CMS team headed by lead partner Stefan-Ulrich Müller again advised Evotec on all legal aspects of the spin-off and venture capital financing. The company is a longstanding CMS client and previously relied on the firm’s expertise when investing in research company Exscientia Ltd. and on receiving a loan from the European Investment Bank, among other matters.
Hamburg-based Evotec is a drug discovery and development company that promotes innovative approaches to the development of new pharmaceutical products through research alliances and development partnerships with pharmaceutical and biotechnology companies, academic institutions, patient organisations and venture capital firms. The company operates globally and has around 2,800 employees.
Breakpoint Therapeutics GmbH, which is headquartered in Hamburg, is an Evotec SE spin-off. The company focuses on the development of several discovery projects initiated at Evotec. The goal is to develop oncology drugs to modulate DNA repair and replication stress.
CMS Germany
Stefan-Ulrich Müller, Lead Partner, Corporate / Venture Capital
Stefan Lüft, Partner, Intellectual Property
Sabine Renz, Associate, Corporate / Venture Capital
In-house at Evotec SE
Dr Christian Dargel, General Counsel
Press Contact
presse@cms-hs.com
