Evotec Completes Acquisition of Renovis

  
    
  
  
    
      Evotec AG (FWB:EVT) today announced that the merger has been 
      successfully completed and that Renovis, Inc. (traded formerly on 
      NASDAQ:RNVS) is now a wholly owned subsidiary of Evotec.
    
    
      In exchange for each outstanding share of Renovis common stock, Renovis 
      stockholders receive 0.5271 American Depositary Shares, or ADSs, of 
      Evotec, which have been approved for listing on the NASDAQ Global Market 
      under the trading symbol "EVTC". The first day of trading is expected to 
      be on or about May 5, 2008 and the ADSs will trade on a "when issued" 
      basis under the symbol "EVTCV" until they are eligible for normal trade 
      settlement, currently anticipated to be within two weeks of the 
      acquisition.
    
    
      Each Evotec ADS represents two ordinary shares of Evotec. As a result, 
      Evotec is issuing an aggregate of 34,970,268 new ordinary shares, which 
      underly the ADSs issued to Renovis stockholders. Current Evotec 
      stockholders now own approximately 68.8% of the combined company and 
      Renovis stockholders own up to 31.2%. To ensure that new Evotec 
      shareholders will be able to participate in this year's Annual General 
      Meeting, Evotec has scheduled the meeting to be held on August 28, 2008.
    
    
      Lehman Brothers Inc. served as the financial advisor to Evotec. Mintz, 
      Levin, Cohn, Ferris, Glovsky and Popeo, P.C. and Freshfields Bruckhaus 
      Deringer served as Evotec’s legal counsel.
    
    
      About Evotec AG
    
    
      Evotec is a leader in the discovery and development of novel small 
      molecule drugs. Both through its own discovery programs and through 
      research collaborations, it is generating the highest quality research 
      results to its partners in the pharmaceutical and biotechnology 
      industries. In proprietary projects, Evotec specializes in finding new 
      treatments for diseases of the Central Nervous System. Evotec has three 
      programs in clinical development: EVT 201, a partial positive allosteric 
      modulator (pPAM) of the GABAA receptor complex for the treatment of 
      insomnia, EVT 101, a subtype selective NMDA receptor antagonist for the 
      treatment of Alzheimer's disease and/or pain, and EVT 302, a MAO-B 
      inhibitor in development for smoking cessation. Evotec's proprietary 
      preclinical research programs focus on the purinergic receptors, P2X3 
      and P2X7, for the potential treatment of pain and inflammatory diseases. 
      In addition, Evotec has worldwide collaboration and license agreements 
      with Pfizer to research, develop and commercialize small molecule 
      vanilloid receptor (VR1) antagonists. For additional information please 
      go to www.evotec.com
    
    
      Forward-Looking Statements
    
    
      Information set forth in this press release contains forward-looking 
      statements, which involve a number of risks and uncertainties. Such 
      forward-looking statements include, but are not limited to, statements 
      about the anticipated benefits of our products, the anticipated benefits 
      of the merger, including future financial and operating results, the 
      combined company’s plans, objectives, 
      expectations and intentions, the anticipated timing and results of the 
      combined company's clinical and pre-clinical programs, and other 
      statements that are not historical facts. We caution readers that any 
      forward-looking information is not a guarantee of future performance and 
      that actual results could differ materially from those contained in the 
      forward-looking information. These include risks and uncertainties 
      relating to: our failure to successfully integrate the businesses; 
      unexpected costs or liabilities resulting from the merger; the risk that 
      synergies from the merger may not be fully realized or may take longer 
      to realize than expected; disruption from the merger making it more 
      difficult to maintain relationships with customers, employees or 
      suppliers; competition and its effect on pricing, spending, third-party 
      relationships and revenues; the need to develop new products and adapt 
      to significant technological change; implementation of strategies for 
      improving internal growth; use and protection of intellectual property; 
      general worldwide economic conditions and related uncertainties; future 
      legislative, regulatory, or tax changes as well as other economic, 
      business and/or competitive factors; and the effect of exchange rate 
      fluctuations on our international operations. The list of risks above is 
      not exhaustive. Our Registration Statement on Form F-4, as amended, 
      filed with the Securities and Exchange Commission in connection with the 
      merger, and other filings and items furnished with the Securities 
      and Exchange Commission, contain additional factors that could impact 
      our businesses and financial performance following the merger. We 
      expressly disclaim any obligation or undertaking to release publicly any 
      updates or revisions to any such statements to reflect any change in our 
      expectations or any change in events, conditions or circumstances on 
      which any such statement is based.