Evotec vows to further engage with investor MAK, who demanded change

FRANKFURT, April 7 - Evotec EVTG.DE said on Tuesday it would continue a dialogue with investor MAK Capital, which has published a list of changes it wants the German biotech firm to make.

  • "We have maintained a constructive dialogue with MAK Capital for some time and we look forward to continuing our engagement with them as well as with other investors," it said in a statement on Tuesday

  • Earlier on Tuesday, the biotech firm said the former head of Bayer's BAYGn.DE pharmaceutical unit, Dieter Weinand, had been proposed by its supervisory board for election as chairman.

  • MAK on Monday called on Hamburg-based Evotec to carve out and list its contract development and manufacturing division Just Evotec Biologics, among other demands in an open letter to management.

  • MAK Capital holds around 7% of Evotec shares.

  • The investor also called on Evotec to accelerate restructuring and appoint industry executive Wolfgang Hofmann to the supervisory board.

  • The company's stock is down more than 85% over the past five years. In early 2024, the company said that its former CEO Werner Lanthaler had for years failed to disclose share trades in the company.



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