Key Developments: Evolva Holding SA (ADF.F)
0.59EUR
16 May 2013
€-0.01 (-2.46%)
€0.61
€0.59
€0.59
€0.59
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8,716
€0.90
€0.23
Latest Key Developments (Source: Significant Developments)
Evolva Holding SA and Cargill to Develop Steviol Glycosides
Evolva Holding SA announced that it has entered into an agreement with Cargill to jointly develop and commercialize fermentation-derived steviol glycosides. Cargill will be responsible for commercialization and has agreed to make a CHF 5 million (approximately USD 5.3 million) equity investment in Evolva. Additionally, Evolva stands to receive up to USD 7.5 million in milestone payments and has the right to a 45% participation in the final business. Full Article
Evolva Holding SA Acquires Resveratrol Program from Fluxome Science A/S
Evolva Holding AG (Evolva) announced that it has agreed to acquire all of Fluxome's scientific and technical assets related to resveratrol and hire a small number of its employees, integrating the program into Evolva's Danish operations. Evolva will not take over Fluxome's United States sales and marketing organization but will instead focus on working with distributors and consumer goods companies to drive sales of the product, including in Asia. The transaction does not include Fluxome's poly-unsaturated fatty acid program. Evolva expects to leverage its own technologies to reduce manufacturing costs and further enhance the competitive advantages of Fluxome's resveratrol. As payment for the assets, Evolva will make an upfront payment of CHF 0.25 million in cash and provide 1.077 million Evolva shares (0.6% of currently issued capital), pay up to CHF 0.8 million in cash and/or shares over the next 12 months and pay a single digit percentage royalty on resveratrol sales until cumulative resveratrol sales by Evolva reach approximately CHF 65 million. Copenhagen Life Science Advisors assisted in the preparation and execution of the transaction between Fluxome and Evolva. The transaction are expected to be completed in the first quarter of the fiscal year 2013 . Full Article
Evolva Holding SA to Acquire Certain Fluxome Sciences A/S Assets
Evolva Holding SA announced that it has entered an agreement to acquire certain assets owned by Fluxome Sciences A/S, a Danish private company that is in reconstruction. The agreement is subject to creditor and court approval. Further information will be provided if approval is obtained. The transaction is not expected to change the Company’s financial projections for the fiscal year 2012. Financial details of the transaction were not disclosed. Full Article
Evolva Holding SA Issues FY 2012 Revenue Guidance Below Analysts' Estimates, Confirms FY 2012 Net Loss Guidance Above Analysts' Estimates
Evolva Holding SA announced that it expects to report total revenues in the fiscal year 2012 between CHF 8 million and CHF 10 million and net loss for the fiscal year 2012 at the same level as in the fiscal year 2011, which was CHF 22.9 million. Based on current partnering discussions, the Company expects revenues in 2013 to increase significantly relative to 2012. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2012 revenue of CHF 15.35 million and a negative net income of CHF 26.09 million. Full Article
Evolva Holding SA Announces Results for First Group of Patients in Phase IIa Study of EV-077
Evolva Holding SA announced results for the first 32 patients enrolled in the Phase IIa study of its investigational drug, EV-077, a reversible antagonist of isoprostanes and prostanoids. The initial analysis shows promising efficacy data, indicating that 300mg EV-077 given orally twice daily to patients with type 2 diabetes provided anti-platelet activity, reduced exercise-induced proteinuria and increased forearm blood flow. This was achieved with only a slight increase in bleeding time. The analysis also indicated that EV-077 was generally well tolerated, with adverse events mostly limited to increases in liver enzymes, which were transient or resolved after discontinuation. Full Article
Evolva Holding SA Announces Change of Chairman of Board of Directors
Evolva Holding SA (Evolva) announced that Sir Tom McKillop will be succeeding Mr. Erich Schlick as Chairman of the Board of Directors. Mr. Erich Schlick will remain on the Board. Sir Tom McKillop has been on Evolva's Board of Directors since 2010. Full Article
Evolva Holding SA Announces Collaboration with Roquette Freres SA
Evolva Holding SA (Evolva) announced the signing of an agreement with Roquette Freres SA (Roquette) for joint research and development of optimized biosynthetic production routes for an ingredient with important applications in food products. The collaboration will run for up to four and half years and involve approximately 7% of Evolva’s Research and Development headcount. The work will include the application of Evolva’s technology to improve fermentation routes, strain improvement and pilot scale-up. Roquette will pay Evolva an upfront technology access fee as well as research fees during the project period. In addition, Evolva may receive milestone payments based on the extent to which certain research and commercial objectives are reached, plus potential payments based on the value created by the project. The total of technology access and milestone payments will be a single-digit CHF million amount. Full Article
Evolva Holding SA Receives Patent Protection for EV-077 from Russian Patent Office
Evolva Holding SA announced that the Russian Patent Office has granted patent protection for EV-077 in the treatment of complications of diabetes for a term extending to 2026. This is the first patent granted covering EV-077. EV-077 patent applications are pending in Australia, Brazil, Canada, China, Europe, Hong Kong, India, Japan, Mexico and the USA. Evolva has filed related applications with the aim to extend the protection for its EV-077 portfolio to 2031 and beyond. EV-077 prevents isoprostanes and prostanoids, levels of which are elevated in diabetics, from causing inflammatory damage to the vasculature. EV-077 is an oral small molecule that belongs to a new structural class. The mechanism of action of EV-077 means that it can potentially ameliorate or prevent a range of diabetic complications (including loss of kidney function and increased risk of thrombosis). Evolva has recently received clearance to move EV-077 into Phase IIa in this indication. First data are expected by mid-2012. Full Article
Evolva Holding SA Receives Second Payment under Collaboration with Roche
Evolva Holding SA announced that Roche has confirmed that the Company has achieved the second stage in their collaboration. Roche will make a milestone payment (of an undisclosed amount) to Evolva Holding AG. The milestone payment does not change Company's cash flow guidance for fiscal year 2011. During the collaboration Evolva Holding SA has created numerous novel compounds with drug-like properties. Some of these compound show promising activity against a range of viruses, others against protein:protein interactions relevant for oncology. Selected early leads have reached a stage where Roche will take over responsibility of their further evaluation. Full Article
Evolva Holding SA Receives Clearance to Move EV-077 into Phase IIa
Evolva Holding SA announced that it has received regulatory clearance to progress its pharmaceutical compound EV-077 into Phase IIa clinical studies for the treatment of complications of diabetes. The mechanism of action of EV-077 means that it can potentially ameliorate or prevent a range of diabetic complications (including loss of kidney function and increased risk of thrombosis). Full Article
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