Renovis sets meeting date for Evotec merger vote

By Lisa Kerner

Charlotte, N.C., March 26 - Renovis, Inc. will hold a special meeting of shareholders on May 1 to vote on the company's acquisition by Evotec AG, it was announced on Wednesday.

Both companies' boards of directors approved the transaction, and Renovis recommended its stockholders vote in favor of the deal.

As previously reported in September, Evotec agreed to acquire Renovis in a stock-for-stock transaction valued at about $151.8 million. The new company will be called Evotec.

Under the terms of the companies' definitive agreement, Evotec will issue and Renovis shareholders will receive American Depository Shares representing 1.0542 Evotec ordinary shares in exchange for each outstanding share of Renovis common stock, a prior news release said.

The transaction, valued at $4.75 per share, was slated to close by the end of the first quarter.

Evotec announced on March 26 that the Securities and Exchange Commission declared its registration statement on form F-4 effective, bringing the merger one step closer to completion.

Following the transaction's close, Evotec chief executive officer and president Jörn Aldag will become CEO and president of the combined company. Renovis senior vice president of research and development Dr. Michael Kelly will become a member of Evotec's executive management team and president of Evotec's U.S. site, it was reported previously.

CEO and president of Renovis Dr. Corey Goodman and chairman of the board John Walker will be appointed to Evotec's new supervisory board, which is expected to consist of six directors.

Evotec, a Hamburg, Germany, biopharmaceutical company, was advised by Lehman Brothers Inc.

Renovis was advised by Cowen and Co., LLC. The biopharmaceutical company is located in South San Francisco, Calif.

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