Evotec, Sandoz Announce Potential Sale of Just – Evotec Biologics EU 

Evotec SE has signed a non-binding agreement with Sandoz AG regarding the potential sale of Just – Evotec Biologics EU, which owns the J.POD biologics manufacturing facility in Toulouse, France, and to grant access to its platform for integrated development and advanced continuous manufacturing of biologics via a technology license.

The site has been customized and dedicated entirely to Sandoz since July 2024, and the transaction aims to advance the partnership. Closing of the planned transaction remains subject to completion of the relevant details. Further deal terms will be disclosed after successful signing of the contracts.

The agreement is part of Evotec’s new strategy to drive sustainable and profitable growth. This transition aims to promote an asset-lighter and capital-efficient model that can better leverage its technology & IP and scale its service offerings.

Proposed Deal Terms

Under the proposed terms, Sandoz would assume full ownership of the Just – Evotec Biologics Toulouse site, while Evotec would retain short-, mid-, and long-term economic upside through revenue, milestones and royalty optionality. The planned deal terms include the purchase price of the site for approximately $300 million in cash, in addition to further technology related considerations, future development revenues, milestones and product royalties.

Dr. Christian Wojczewski, Chief Executive Officer of Evotec, said, “We are excited about the evolution of our strategic partnership. Today’s agreement marks a significant milestone in Evotec’s new strategy to refocus on its core strengths and deliver sustainable profitable growth. By leveraging Just – Evotec Biologics’ capabilities as a scalable technology provider while moving to a more capital efficient model, we are well positioned to shape a new segment in the biologics manufacturing market and expand the scope of our partner base.”

Dr Linda Zuckerman, EVP and Global Head of Just – Evotec Biologics, said, “We are thrilled to see our technology and vision further validated through this transaction. Just – Evotec Biologics and Sandoz are united in our missions to broaden global access to life-changing biotherapeutics. Our perfusion-based continuous manufacturing platform plays a pivotal role in achieving this mission, unlocking greater efficiency, scalability, and agility.”