Renovis Stockholders Approve Acquisition by Evotec
May 01 2008 - 12:55PM
PR Newswire (US)
SOUTH SAN FRANCISCO, Calif., May 1 /PRNewswire-FirstCall/ --
Renovis, Inc. (NASDAQ:RNVS) announced today that its stockholders
approved the adoption of the merger agreement with Evotec AG
(Frankfurt Stock Exchange: EVT) at a special meeting of
stockholders held today. The merger is expected to close by May 5,
2008. In the transaction, each issued and outstanding share of
Renovis common stock will be automatically converted into the right
to receive 0.5271 of an American Depositary Share (ADSs) of Evotec,
with each ADS representing two ordinary shares of Evotec, such that
each issued and outstanding share of Renovis common stock will be
exchanged for ADSs representing 1.0542 Evotec ordinary shares.
About Renovis, Inc Renovis is a biopharmaceutical company focused
on the discovery and development of drugs for major medical needs
in the areas of neurological and inflammatory diseases. The
Company's proprietary research programs focus on the purinergic
receptors, P2X3 and P2X7, for the potential treatment of pain and
inflammatory diseases. In addition, Renovis has worldwide
collaboration and license agreements with Pfizer to research,
develop and commercialize small molecule vanilloid receptor (VR1)
antagonists. Forward-Looking Statements This communication contains
certain forward-looking statements. All statements, other than
statements of historical facts, regarding the likelihood and timing
of the completion of the business combination transaction involving
Evotec and Renovis, the conversion of Renovis shares into a right
to receive Evotec shares, the anticipated benefits of such
transaction and the plans and objectives of management are
forward-looking statements and are based on management's current
expectations and estimates. We may not actually achieve these
plans, intentions or expectations and Renovis cautions investors
not to place undue reliance on our forward-looking statements.
Actual results or events could differ materially from the plans,
intentions and expectations disclosed in the forward-looking
statements we make. Factors that could cause or contribute to such
differences may include, but are not limited to, risks relating to
the integration of the technologies and businesses of Evotec and
Renovis, unanticipated expenditures, changing relationships with
customers, suppliers and strategic partners, conditions of the
economy and other factors described in the Registration Statement
on Form F-4 filed with the SEC by Evotec and the most recent
reports on Form 10-K, Form 10-Q, Form 8-K and other periodic
reports filed by Renovis with the SEC. DATASOURCE: Renovis, Inc.
CONTACT: Shari Annes of Renovis, Inc., +1-650-888-0902, Web site:
http://www.renovis.com/
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