Selling of Evotec Technologies allows parent company to expand CNS pipeline.

PerkinElmer procured high-throughput screening company Evotec Technologies for approximately EUR23 million, or $30.62 million, in cash. The company expects to close the transaction in the first quarter of 2007.

Through this acquisition, PerkinElmer will be able to provide Evotec Technologies’ high-content screening instruments and analysis software. “Our customers today require unique, flexible tools and platforms that produce better quality and biologically relevant data for mapping cellular events to new discoveries,” says Gregory L. Summe, chairman and CEO, PerkinElmer. “Evotec Technologies’ strong product portfolio combined with PerkinElmer’s global distribution capabilities, service, and support will help our customers speed target validation and lead optimization along the drug discovery pipeline.”

Joern Aldag, CEO of parent company, Evotec says that this transaction permits Evotec to focus on its drug discovery and development business. “Together with the sale of certain technology assets of Evotec Technologies to Olympus earlier in the year, the combined divestments value Evotec Technologies at approximately EUR30 million. The cash proceeds will provide us with additional flexibility to progress and expand our Central Nervous System pipeline.”

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