Evotec AG
FY 2007 Results Presentation, March 28, 2008
Filed by: EVOTEC AG
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12 under the
Securities Exchange Act of 1934
Subject Company: Renovis, Inc.
Exchange Act File No. 000-50564

3/28/2008
Folie
2
Forward-looking statements
Information
set
forth
in
this
presentation
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
consummation
of
our
merger
with
Renovis,
the
timing
of
the
completion
of
the
merger,
the
anticipated
benefits
of
the
merger,
including
future
financial
and
operating
results,
our
post-
merger
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
ability
to
obtain
regulatory
approvals
of
the
merger
on
the
proposed
terms
and
schedule;
our
ability
to
complete
the
merger
because
conditions
to
the
closing
of
the
transaction
may
not
be
satisfied;
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
filed
with
the
Securities
and
Exchange
Commission
in
connection
with
the
proposed
merger
with
Renovis
contains
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.
Additional Information
We
have
filed
a
Registration
Statement
on
Form
F-4
with
the
Securities
and
Exchange
Commission
in
connection
with
the
proposed
merger.
Evotec
and
Renovis
expect
to
mail
a
joint
proxy
statement/prospectus,
which
will
form
part
of
the
Registration
Statement
on
Form
F-4,
to
shareholders
of
Renovis
in
connection
with
the
proposed
merger.
This
document
will
contain
important
information
about
the
merger
and
should
be
read
before
any
decision
is
made
with
respect
to
the
merger.
Investors
and
stockholders
will
be
able
to
obtain
free
copies
of
this
document
and
any
other
documents
filed
or
furnished
by
Evotec
or
Renovis
through
the
website
maintained
by
the
Securities
and
Exchange
Commission
at
www.sec.gov.
Free
copies
of
these
documents
may
also
be
obtained
from
Evotec,
by
directing
a
request
to
Evotec's
Investor
Relations
department
at
Schnackenburgallee
114,
22525
Hamburg,
Germany,
or
from
Renovis,
by
directing
a
request
to
Renovis'
Investor
Relations
department
at
Two
Corporate
Drive,
South
San
Francisco,
California
94080.
You
may
also
read
and
copy
any
reports,
statements
or
other
information
filed
or
furnished
by
Evotec
or
Renovis
at
the
SEC's
Public
Reference
Room
at
Station
Place,
100
F
Street,
N.E.,
Washington,
D.C.
20549.
You
can
request
copies
of
these
documents
by
writing
to
the
SEC
and
paying
a
fee
for
the
copying
cost.
Please
call
the
SEC
at
1-800-SEC-0330
for
more
information
about
the
operation
of
the
Public
Reference
Room.

3/27/2008
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3
Agenda
01
Highlights 2007
02
Pipeline Update
03
Collaborations
04 
FY 2007 Results
05
The Merger with Renovis
06
Outlook 2008

3/27/2008
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4
Highlights 2007
Transition to a global biopharmaceutical company
Merger agreement signed with Renovis, shareholder approval expected May 01,
2008
Divestment of non-core assets for cash
Clinical progress
EVT 201 preclinical and POC data suggest strong efficacy and safety profile
EVT 302 Phase I safety data: well tolerated up to the highest doses; Phase II
craving study initiated in smoking cessation
Liquidity position strengthened to pro-forma €
141 m
Strategic transactions led to a total increase of available funds of appr. €
83 m
Potential combination with Renovis further strengthens balance sheet
Financial guidance for 2007 achieved
01 Highlights 2007

3/28/2008
Page 5
Financial guidance for 2007 achieved
01 Highlights 2007
93 –
98
+19 %
94
79
Liquidity at year end
–
+60 %
(11)
(28)
Net income    
–
+10 %
37
33
R&D expenses
30 –
35
-19 %
33
41
-
Continuing business***
–
-36 %
54
85
Revenues 
Guidance
2007**
2006*
Evotec Group (in € m)
*** 2006 excl. ET/CPD    2007 excl. CPD
** Chemical Development Business (CPD) only 11 months
* As restated

3/28/2008
Page 6
Libraries
Strategic transformation
€
24 m
CNS Pain
Inflammation
€
141 m cash*
Renovis
Discovery and
Development
Evotec
Discovery and
Development
Screening
Technologies
* Based on end of December 2007 cash, after expected transaction
costs.
01 Highlights 2007
Chemical
Development,
Formulation
Services

3/27/2008
Page 7
Agenda
01
Highlights 2007
02
Pipeline Update
03
Collaborations
04 
FY 2007 Results
05
The Merger with Renovis
06
Outlook 2008

3/28/2008
Page 8
Phase II results
Successfully completed in 2007
Data reviewed with members of a key
opinion leader panel
Results offer great potential for a new
treatment of insomnia
Partnering
Data in discussion with potential partners
Co-development arrangements or further
in-house differentiation studies to enhance
value creation in partnering discussions
also considered
02 Pipeline Update
EVT 201: Strong Proof-of-Concept Data in 2007
Partial
positive
allosteric
modulator
for
GABA
A
receptors

3/27/2008
Page 9
Market need
Datamonitor
report on insomnia April 2007
5 areas of unmet need identified
1: Reduction of residual daytime sedation
2: More effective treatments for insomnia in the elderly
3: Improvement in sleep maintenance
4: Lack of potential for tolerance and addiction
5: More effective treatments for pediatric
insomnia
EVT 201 has the potential to meet all of these unmet needs
Effect on Top 3 criteria already demonstrated
Expected to show less development of tolerance and addiction than existing
treatments and has not yet been tested in paediatric patients
02 Pipeline Update

3/28/2008
Page 10
Longer
duration
of
action,
more
sustained
effect
in
the
2nd
half
of
the
night
vs
Ambien
CR, continued dosing leads to tolerance
pPAM
pharmacology expected to produce less tolerance; maintains duration of
action
Beneficial effects upon next day sleepiness
In elderly with daytime sleepiness due to insomnia, using gold standard methods
No similar data on Ambien
CR, Lunesta
published
Potential
for
superior
safety
profile
as
a
result
of
its
pPAM
pharmacology
Potentially better tolerated at therapeutic dose or multiples
-
Vs. full agonists at the GABA
A
receptor such as zolpidem
Our assessment of EVT 201’s best-in-class profile:
Expected differentiation on safety & efficacy
02 Pipeline Update
Best-in-class potential on safety & efficacy

3/28/2008
Page 11
Principle
Investigator
Dr James Walsh
Executive Director of the Sleep Medicine and Research Center, St John’s Mercy Medical Center
“EVT 201 appears to have an ideal pharmacokinetic profile and dose
relationship
to promote sleep induction and sleep maintenance for 7-8 hours,
without risk of daytime sedation.
In fact, in one study insomnia patients were objectively more alert throughout the
day when treated for only
one week.
Moreover, as a partial agonist of GABA
A
receptors EVT201 may result in fewer
side effects than full agonists.
Thus, EVT201 may have a better efficacy-safety ratio (index) as compared to
current treatments.”
02 Pipeline Update
March
2008

3/27/2008
Page 12
EVT 302: Good safety data and start of Phase II
Selective MAO-B inhibitor for smoking cessation & Alzheimer’s
Multiple ascending dose study in healthy
subjects successfully completed
Well tolerated in young & elderly up to the
highest dose levels
No significant adverse events or concerns from
all safety assessments incl
liver function tests
Highly predictive pharmacokinetics with low
variability
Assessment on selective inhibition of MAO-B
with lack of MAO-A inhibition in humans ongoing
Phase II craving study progressing to plan
Single dose of EVT 302 alone / in combination
with Nicotine Replacement Therapy
Results expected in Q3 2008
02 Pipeline Update

3/27/2008
Page 13
EVT 302: Single ascending and multiple dose
PET study successfully completed
Single ascending dose PET study in 18 healthy subjects dosed up to 15 mg
Dose dependent occupancy and complete blockade of MAO-B achieved in
relevant areas of brain
Potency of EVT 302 higher than that of the comparator selegiline
Excellent correlation of brain MAO-B occupancy with plasma concentration of
EVT 302
Results taken as basis for planning of a multiple dose PET study
Multiple dose PET study in 18 healthy subjects
Full occupancy of MAO-B achieved in relevant areas of brain after the second
day of dosing with EVT 302
Potential for weekly dosing feasible based on the PET results 
02 Pipeline Update
Dose selected for Phase II quit rate study

3/28/2008
Page 14
8 weeks treatment in smokers withdrawing from cigarettes
4 groups
in
parallel
design
–
estimated
patient
number
400
EVT 302 once daily, placebo, with and without nicotine replacement therapy
Commonly used endpoints
4 week quit rate + 7 day prevalence quit rate
Responder rates
Markers of consumption and subjective assessments of craving and
mood etc
To be conducted in Germany
Clinical
phase
of
study
commences
mid
2008
–
subject
to
usual
approvals
Headline data H1 2009
EVT 302: Phase II proof-of-concept quit rate study to start in H2
Design in progress
02 Pipeline Update

3/27/2008
Page 15
Study conducted in France and dosing has completed satisfactorily
No significant adverse events or concerns from all safety monitoring
assessments
EVT 101 continues to be well tolerated
Blinded results from lower of two dose levels available to date
Results of second dose levels available by end Q2 2008
Cerebrospinal fluid (CSF) penetration assessed in a subgroup receiving EVT
101 daily for 8 days
EVT 101: 4 week Phase Ib
higher repeat dose cognition
study, dosing completed
02 Pipeline Update
Demonstrated concentrations in the CSF which are extrapolated to
produce occupancy of the NR2B receptor in the anticipated therapeutic
range and significantly greater than memantine
NMDA occupancy

3/27/2008
Page 16
Study completed at Institute of Psychiatry London
Single dose of placebo, 8, 15 mg EVT 101 given to 19 healthy subjects
EVT 101 well tolerated with no significant adverse effects
EVT 101:
Brain imaging fMRI
study in healthy volunteers completed
02 Pipeline Update
Modulation of the activity of specific brain regions during the
performance of cognitive tasks
Increase in baseline regional blood flow in the anterior cingulate
cortex
Provides first evidence of effect upon brain in man
Modulation of memory retrieval network encouraging for activity in
Alzheimer’s disease
Anterior cingulate
cortex
is concerned with response to pain and
is rich in NR2B receptors
Supports role in pain states

3/27/2008
Page 17
Phase Ib
fMRI
study:
EVT 101-induced changes in rCBF
02 Pipeline Update

3/27/2008
Page 18
Additional preclinical studies requested by FDA have been initiated
Studies progressing to plan and expectations
Start of single dose spinal cord injury associated neuropathic pain study in
US dependent on these results and their review by FDA
EVT 101: Progress in response to FDA IND review
02 Pipeline Update

3/27/2008
Page 19
EVT 101: Summary of progress
Phase I
fMRI
study completed and reported today; dosing in 4 week higher repeat
dose study completed
At a dose level which was safe and well tolerated EVT 101 demonstrated
penetration into the CSF to occupy NR2B receptors to a significantly higher
level than memantine
at its therapeutic dose in Alzheimer’s Disease
Data from fMRI
study demonstrates first data of effect upon CNS in man
At the same dose level changes in regional blood flow demonstrated in the 
human brain in an area important in pain response
Phase II
Necessary additional preclinical work as requested by FDA in progress
Phase II study could start in 2008 in either Alzheimer’s Disease or neuropathic
pain
02 Pipeline Update

3/27/2008
Page 20
Progress on additional development programs
EVT 103
Preclinical toxicology completed satisfactorily
Progression to Phase I planned –
timing dependent on budget
Renovis P2X7 antagonist
Preclinical toxicology completed satisfactorily
Planned first in human Phase I study mid 2008
Renovis VR1 antagonist program
Phase I studies expected to begin mid 2008
Development costs are incurred by Pfizer
02 Pipeline Update

3/27/2008
Page 21
Agenda
01
Highlights 2007
02
Pipeline Update
03
Collaborations
04 
FY 2007 Results
05
The Merger with Renovis
06
Outlook 2008

3/27/2008
Page 22
Research results for a top quality customer network
03 Our Collaborations

3/27/2008
Page 23
Strategic progress
Higher value and strategic deals in preferred therapeutic areas
Boehringer
Ingelheim
collaboration extended for another year
Significant expansion of CHDI collaboration in Huntington‘s
Disease
Expansion of DAC collaboration into medicinal chemistry phase
Technical differentiation
Fragment-based drug discovery platform EVOlution™
successfully established
Deals signed with DAC, Intermune, Ono, others
Acquisition of Combinature
to expand fragment-based platform
03 Our Collaborations

3/27/2008
Page 24
High-value added, results-based collaborations
Deliver preclinical candidates exploiting Evotec’s
GPCR
and other target class expertise
76 FTE committed (36 from Evotec)
Duration 6 years
Extended in 2008 for another year
Research payments, milestones, royalties, rights back
CNS project on undisclosed target
Screening of both compound libraries completed
Both companies apply chemistry resources to the hits
identified
Joint research, option rights, milestones (potentially >
€100m), royalties
03 Our Collaborations

3/27/2008
Page 25
Substantial contracts in preferred therapeutic areas
Three-year extension of integrated drug discovery contract in Huntington‘s Disease
Worth up to US $ 37m
Covers Evotec’s
entire drug discovery offering
Example for strategic expertise in CNS
Biology and medicinal chemistry support
Continued into the second year of collaboration
Different therapeutic areas
03 Our Collaborations

3/27/2008
Page 26
Fragment-based drug discovery platform
EVOlution™
leads to significant new deal flow
Collaboration on HSP90 advanced well into lead
optimization based on fragment-based approach
Validation phase completed generating novel IP
Fragment-based drug discovery program yields positive
results and leads to expansion of the collaboration
Technology access fee to EVOlution ™ , plus ongoing
research funding
Three-year fragment-based drug discovery / medicinal
chemistry agreement
Technology access fee to EVOlution ™ , plus ongoing
research funding and success payments
03 Our Collaborations

3/27/2008
Page 27
Agenda
01
Highlights 2007
02
Pipeline Update
03
Collaborations
04 
FY 2007 Results
05
The Merger with Renovis
06
Outlook 2008

3/27/2008
Page 28
04 FY 2007 Results
Key financials 2007: Increased R&D investment
Condensed Profit & Loss Statement (IFRS) –
continuing business in €m
-68%
-58.1
-34.5
Operating income (loss)
+60%
-11.2
-27.7
Net income (loss) total
–
36.9
1.3
Net income (loss) discontinued operations
-66%
-48.1
-29.0
Net income (loss)
-134%
-0.1
0.3
–
Other operating expenses
0.4
0.0
–
Restructuring expenses
+318%
11.1
2.7
–
Amortization & impairment
+18%
17.8
15.0
–
SG&A expenses
+22%
36.9
30.3
–
R&D expenses
24.4%
33.9%
Gross margin
-19%
32.9
40.6
Revenues
% vs. Actual 06
2007 Actual
2006 Actual

3/27/2008
Page 29
Revenues impacted by library JV and absence of
milestone payments in 2007
04 FY 2007 Results
2006
2007
Trad.Revenues
Library
Milestones
3.2
Revenues, continuing business (in € m)
40.6
30.8
32.0
6.6
0.9
32.9

3/27/2008
Page 30
Adjusted for foreign exchange ongoing business
increased by 9%
04 FY 2007 Results
2006
2007
Trad.Revenues
FX-effect
Revenues, continuing business (in € m)
32.0
1.5
33.5
30.8

3/27/2008
Page 31
Group gross margin, continuing business (in %)
Milestone payments lead to margin volatility
33.9%
24.4%
2006
2007
04 FY 2007 Results
Key drivers:
Milestone impact:
€
3.2m milestones improved
GM in 2006 by 6%
Currency effect due to
weak USD :  -3%-points
Different revenue-mix towards
higher risk milestone-earning
projects

3/27/2008
Page 32
30.3
36.9
6.6
2006
2007
Group
In-licensing
Research & Development (R&D): Creating pipeline value
2007:
-
€36.9m for proprietary R&D
(Discovery: 23% / Clinical
Development: 64%)
2006:
-
€23.7m for proprietary R&D
(Discovery: 24% / Clinical
Development: 57%)
-
€6.6m spend for in-licensing of EVT 301/302
23.7
04 FY 2007 Results
Group R&D spend, continuing business (in € m)

3/27/2008
Page 33
2006
2007
-34.5
-58.1
* 2006 as restated
Higher operating loss mainly due to lower GP,
increased R&D investment & impairment
04 FY 2007 Results
Operating result, continuing business* (in € m)
Amortization & impairment
Net income before amortization & impairment
€
-0.6m
Reversal of impairment
€
3.3m
Amortization intangible assets
Amortization & Impairment 2006
€
5.8m
Impairment Goodwill OAI
€
3.2m
Impairment int. assets ENS
€
0.1m
Impairment int. assets Neuro3d
€
-0.6m
Reversal of impairment
€
2.6m
Amortization intangible assets
Amortization & Impairment 2007
-47.0
-11.1
-31.8
-2.7

3/27/2008
Page 34
Net income in 2007 improved
by the divestment of
ET €11.2m
CPD €
25.2m
-11.2
-27.7
2006
2007
* 2006 as restated
Net Income improved by 60%
04 FY 2007 Results
Net loss, total business* (in € m)

3/27/2008
Page 35
04 FY 2007 Results
Chemical Development Business, sold to Aptuit
effective November 30, 2007 : Discontinued operations
Condensed Profit & Loss Statement (IFRS) –
Chemical Development Business (CPD) in €m
+194%
2.3
-2.5
Operating income (loss)
-43%
2.3
4.1
Operating income (loss)
before Amortization & Impairment
0.0
1.3
–
Other operating expenses
0.0
6.6
–
Impairment of Goodwill
-17%
3.1
3.8
–
SG&A expenses
0.0
0.0
–
R&D expenses
25.5%
34.3%
Gross margin
-20%
21.5
26.8
Revenues
% vs. Actual 06
2007 Actual*
2006 Actual
* CPD only 11 months

3/27/2008
Page 36
Cash development (incl. investments) 2007*:
Cash flow from operations dominated by R&D expenditure
18.9
42.5
78.7
-1.1
-33.4
93.7
-3.1
-8.8
in €
m
Cash
31.12.06
Other
investing &
financing
CF
Acquisition
Neuro3d
Cash
31.12.07
FX effect
Operating
CF
Sale of CPD
Business
Capex
excl.
finance
leases
04 FY 2007 Results
* Continuing
business

3/27/2008
Page 37
Sharpening the focus on proprietary research
299
554
566
38
87
53
2005
2006
2007
Services
Pharma
04 FY 2007 Results
Employees as of Dec 31, year-end, total business
Growing R&D discovery
operations

3/27/2008
Page 38
Reduced asset base due to divestments
04 FY 2007 Results
Balance sheet  –
Assets* (in € m)
Dec 31, 2006
Dec 31, 2007
243.1
207.9
* 2006 as restated
93.9
34.7
20.1
15.7
78.7
77.5
18.5
18.2
93.7
Intangible assets + other long-term assets
Property, plant and equipment
Assets classified as held for sale
Other current assets
Cash, cash equivalents & investments

3/27/2008
Page 39
Capital expenditures handled restrictively,
includes €
1.1m acquired assets from Combinature
04 FY 2007 Results
* Without finance leases
3.1
0.2
** 2006 as restated
Capital expenditures –
continuing business * / ** (in € m)
3.5
2.9
2006
2007
Purchase PPE (fixed assets)
Purchase intangible assets

3/27/2008
Page 40
Equity ratio increased to 82%
04 FY 2007 Results
Balance sheet  –
Liabilities & stockholders’
equity* (in € m)
Dec 31, 2006
Dec 31, 2007
243.1
207.9
* 2006 as restated
Stockholders‘
equity
Long-term liabilities and deferred taxes
Liabilities classified as held for sale
Other short-term liabilities
Accruals
5.2
43.2
7.0
19.3
168.3
69%
5.1
19.2
13.0
170.6
82%
Thereof 22.2m
liability to
deliver ET
(equiv. to
prepayment)

3/27/2008
Page 41
Agenda
01
Highlights 2007
02
Pipeline Update
03
Collaborations
04 
FY 2007 Results
05
The Merger with Renovis
06
Outlook 2008

3/27/2008
Page 42
2004 IPO: 3 clinical programs
Lead program in stroke, positive data in May, 2005
Wall Street “ darling ”
until October 2006 with pivotal trial failure
Peak market cap: ~$700 million
2006 Re-start: Trading at cash, <$100 million
Down-sizing, top management departed
Focused, integrated preclinical small molecule discovery/development
Chemistry/biology expertise, proprietary drug-like libraries
2 INDs
are expected in 2008, including key Pfizer collaboration
Renovis history
Renovis history
05 The Merger with Renovis

3/27/2008
Page 43
The combination: Multi-faceted pipeline,
strong fit and differentiating science
Discovery
Preclinical
Phase I
Phase II
Phase III
EVT 201 GABA
A
receptor partial positive modulator for Insomnia
EVT 302 MAO-B inhibitor –
Smoking Cessation, Alzheimer‘s
EVT 101 NMDA NR2B subtype selective antagonist –
Alzheimer‘s, Pain
EVT 103 NMDA NR2B subtype selective antagonist
VR1  Antag.
P2X7 Inhibitor
P2X3 Inhibitor
FAAH Inhibitor
Boehringer collaboration
Histamine H3
B1
Roche collaboration
HTS & FBDD
Renovis
Evotec
05 The Merger with Renovis

3/27/2008
Page 44
VR1 -
Vanilloid
Receptor
1 antagonist
Exclusive worldwide collaboration
Pooled program signed Q2 2005
>$20m+ lic. fees & research funding
$170m+ milestones possible for each product
candidate
$1.5m milestone payment (2006)
$4.5m milestone payment (2007)
Double-digit royalties on w/w
net sales
Two-year joint research effort
Extended for additional year, April 2007
Multiple clinical candidates
Pfizer has exclusive rights to develop and
commercialize products
Expect Phase I studies in mid 2008
05 The Merger with Renovis

3/27/2008
Page 45
VR1 -
Vanilloid
Receptor
1 antagonist
Potential for safe, best-in-class analgesic, non-addictive, minimal side effects
Clinical & preclinical validation for pain
Competitive R&D activity
Potentially ideal drug profile…
Strong analgesic
Non-addictive
Minimal side effects
Broadly applicable analgesic
Inflammatory, OA, & neuropathic
pain
Chronic and acute pain
…
with potential in other indications
Urinary incontinence
Asthma and others
05 The Merger with Renovis

3/27/2008
Page 46
P2X
7
receptor antagonist
Potential best-in-class molecule
Strong industry interest
Best-in-class opportunity
Multiple large potential indications
Pain, RA, IBD, COPD
Clinical candidate & back-up series
Planned Phase 1 in 2008
Partnering opportunity
05 The Merger with Renovis

3/28/2008
Page 47
P2X
2/3
receptor antagonist
Validated for multiple pain types
Strong industry interest: 1
st
-in-class
Lead series with superior properties
Multiple large potential indications
Inflammatory pain
Neuropathic pain
Urinary incontinence
Planning Phase 1 in H1 2009
05 The Merger with Renovis

3/27/2008
Page 48
Key facts on Renovis acquisition
Data pro-forma
Merger close
Form F-4 declared effective by the SEC in March 2008
NASDAQ listing expected in May 2008
Closing subject to shareholder vote on May 01, 2008
34.57m Evotec shares exchanged for 32.79m Renovis shares
Fixed share exchange rate of 1.0542 EVT for 1.0 RNVS
Key data pro-forma (including Renovis)
Cash 31/12/2007: €
141m*
Cash run rate: 3 years
Headcount: approx.
440
# of shares: 108.8m
Market capitalization as of March 26, 2008: > US$ 280m
* Based on end of December 2007 cash, after anticipated transaction costs.
05 The Merger with Renovis

3/27/2008
Page 49
Key anticipated benefits
Operational footprint in leading biotech region –
Bay Area in the US
Strong inflammation / pain talent pool
Academia
Expansion / de-risking of pipeline
Several significant value inflection points in 2008/2009
Pipeline funding
NASDAQ liquidity
05 The Merger with Renovis

3/27/2008
Page 50
High-value and strategic partnerships:
Milestones expected in 2008, 2009
Post-merger partnership profile
76 FTEs, 6 year collaboration, milestones, royalties
CNS target, milestones > €100 m,
mid-single digit royalties
VR1, US$ 10m in upfront payment, >US$ 10m in FTE funding,
>US$ 170m milestones, double-digit royalties
05 The Merger with Renovis
Integrated drug discovery contracts in Huntington’s Disease,
worth up to US$ 37 m
3 year fragment-based drug discovery / medicinal chemistry
agreement

3/27/2008
Page 51
Agenda
01
Highlights 2007
02
Pipeline Update
03
Collaborations
04 
FY 2007 Results
05
The Merger with Renovis
06
Outlook 2008

3/27/2008
Page 52
06 Outlook 2008
Sales and Order Book
2008 Sales and Order Book, continuing business
Status as of February (in € m)
19.2
19.1
2007
2008

3/27/2008
Page 53
Financial guidance
2008 (incl. Renovis)
06 Outlook 2008
Cash run at least 3 years -
assumes no major
out-licensing event
Progress in clinical pipeline
-
Expected start of Phase II for EVT 302 & EVT 101
-
Advancing two drug candidates into the clinic
Renovis acquisition
Based on current order book, expected new
contracts, contract extensions and some milestones
May be substantially higher, depending
on contribution from out-licensing and additional
milestone income
Liquidity Dec 31, 2008
excluding out-licensing
payments
:
> €85m
R&D expenses
before employee stock
compensation
:
€46m -
€51m
Revenues
before out-licensing
income
:
€34m -
€36m

3/27/2008
Page 54
Our research plan 2008 (incl. Renovis)
Start / completion of POC Phase II studies in Smoking Cessation
EVT 302
3-4 lead optimisation projects
Discovery
Start of Phase I studies
P2X7
No R&D / funded by Pfizer
VR1
Subject to successful out-licensing of EVT 201 or others
EVT 103
Completion Phase Ib
studies / start of POC studies
EVT 101
Manufacturing/preclinical studies
EVT 201
Milestone
Budget 2008
06 Outlook 2008

3/27/2008
Page 55
Combined newsflow
2008
NASDAQ listing (
)
EVT 101: -
Ph Ib
fMRI
cognition data
-
Ph Ib
higher repeat dose data
EVT 302: -
Ph I safety d ata
-
Single / repeat dose PET data
-
Initiate Ph II craving study
Partnership EVT 201
EVT 302: -
Initiate Ph II quit rate study
-
Ph II craving data
-
Tyramine
interaction data
VR1: Initiate Phase I
EVT 101: Initiate Phase II POC
P2X7: Initiate Phase I
06 Outlook 2008
Merger close
H1 2008
H2 2008

3/27/2008
Page 56
Major value inflection points by end 2009
Partnering opportunity for EVT 201 in 2008
Phase II POC data for EVT 302 in 2008/2009
Craving study
Quit rate study
Phase II POC data for EVT 101 in 2009
Depending on start and final study design
Entry of several drug candidates into Phase I studies in 2008/2009
06 Outlook 2008

3/27/2008
Page 57
Global CNS pure play
Lead insomnia compound EVT 201
Partner-ready, best-in-class
Broad and deep pipeline, with clinical momentum
Proprietary and partnered
Fully integrated discovery-through-development core competencies
Multiple partners generating collaborative revenues: Roche, BI, Pfizer, CHDI
Strong pro-forma cash position of €
141 m*; Nasdaq liquidity
A compelling CNS investment
* Based on end of December 2007 cash, after expected transaction
costs.

3/27/2008
Page 58
Tomorrow’s Drugs Today™
Your
contacts:
Jörn Aldag
President
& CEO
P: +49.(0)40.56081-375
joern.aldag@evotec.com
Anne Hennecke
SVP, Investor Relations
P: +49.(0)40.56081-286
anne.hennecke@evotec.com
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