HAMBURG, Germany, Nov. 23, 2012 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced that it has received CIR accreditation for a three-year period from the French Ministry of Higher Education and Research.
The French R&D tax credit initiative ("Crédit d'Impot Recherche", CIR) gives eligible research-based French companies, who are subject to corporate tax in France, the ability to claim tax relief on costs generated in R&D activities outsourced to Evotec.
Dr Mario Polywka, Chief Operating Officer of Evotec AG, commented: "We are delighted to receive this accreditation as it allows our current and future customers in France to benefit from a tax relief of up to 30% of their R&D expenditure committed to Evotec."
About CIR
The Research Tax Credit (CIR) is a central tool of the policy favouring research and innovation. This tax benefit allows the growth of businesses competitiveness by favouring research and development. It is particularly adapted to the needs of small and medium-sized enterprise and constitutes a reliable element of the innovative business financing plan. (www.eureka.lorraine.eu)
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic. The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuroscience, pain, metabolic diseases as well as oncology and inflammation. Evotec has long-term discovery alliances with partners including Bayer, Boehringer Ingelheim, CHDI, Genentech, MedImmune/Astra Zeneca, and Ono Pharmaceutical. In addition, the Company has existing development partnerships and product candidates both in clinical and pre-clinical development. These include partnerships with Boehringer Ingelheim, MedImmune and Andromeda (Teva) in the field of diabetes, and with Roche in the field of Alzheimer's disease. 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. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this report. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. 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.