Evotec, which provides drug discovery solutions for the pharmaceutical industry, filed on Friday with the SEC to raise up to $100 million in an initial public offering. The company is currently listed on the Frankfurt Stock Exchange under the symbol EVT, with a market cap of about $7.5 billion.
The company calls itself an industry-leading drug discovery and development partner for the pharmaceutical and biotechnology industry, focused on discovering drug candidates in a wide range of difficult-to-treat diseases. It generates income by charging fees for its services, collecting milestones and royalties, and through equity ownership in biotechs. Evotec states that its pipeline has over 130 assets.
The Hamburg, Germany-based company was founded in 1993 and booked $626 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol EVO. Evotec filed confidentially on July 9, 2021. BofA Securities, Morgan Stanley, Citi, Jefferies, Cowen, and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
