Abu Dhabi’s sovereign wealth fund Mubadala is investing $235 million in Germany-based pharma company Evotec SE, which specializes in bringing medical breakthroughs faster to market.
The private placement by Mubadala in Evotec is in exchange for about 5.6 percent of outstanding shares. Evotec’s existing shareholder, Novo Holdings, also will invest $58.9 million to support the pharma company for a fast-track growth and to strengthen its ownership to 11 percent of outstanding shares.
The German pharma company which is listed in Frankfurt, will issue 11.47 million new shares to Mubadala Investment Company and Novo Holdings and increase its cash reserves by $294 million.
Camilla Macapili Languille, Head of Pharma & Medtech at Mubadala Investment Company, says “We are excited to partner with Evotec, who we see as one of the global pioneers for drug discovery innovation. We have been impressed by the company’s distinctive business model, their proprietary technology platforms and the unique role they play in the rapidly growing universe of pharmaceutical & biotech R&D, an area whose importance is acutely highlighted in the current environment.”
Currently, Mubadala is focusing on opportunities including :
- Quickening global infrastructure built-up strategy in biologics and investments in prediction technologies for biologics.
- Investments in novel cell and gene therapies in multiple indications.
- Investments in greater access to patient-derived material and data for precision medicine processes in drug discovery and drug development.
- Investments in the company’s proprietary technology platforms, such as induced pluripotent stem technology (iPSC) and machine learning technology.
- Expansion of its market presence in the US and Europe.
- Acceleration of the company’s translational strategy from academia to industry and equity participation strategy for highly innovative assets.
Evotec is a global drug discovery and development company and it operates mainly through external partnerships with pharmaceutical and biotechnology companies, academic institutions and patient advocacy groups. The company has more than 3,400 employees at 14 sites in Germany, the US, France, Italy, the UK and Austria.