Evotec AGMay 2008

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 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. T he 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 i s based.

Evotec highlights

z Global CNS discovery and development company
z Attractive CNS pipeline with compounds in blockbuster indications
z Financials:
€ 33 m in partnership revenues
€ 119 m cash (31/3/2008)
z440 employees
zFrankfurt SE and NASDAQ listed

Pipeline

Key facts on Renovis acquisition

zMerger closed on May 2, 2008

Fixed share exchange rate of 1.0542 EVT for 1.0 RNVS
Evotec listed on NASDAQ on May 5, 2008 under trading symbol "EVTC"
z Key data pro-forma (including Renovis)
Cash 31/3/2008: € 119 m; Cash run rate: until year-end 2010
Headcount: approx. 440
of shares: 108.8m
z Merger rationale
Expansion of CNS pipeline
Pipeline funding
Operational footprint in leading biotech region – Bay Area in the US
NASDAQ liquidity

Multi-faceted pipeline, many clinical opportunities

D i s c o v e r y	P l i i l P h I P h I I r e c n c a a s e a s e
E V T 2 0 1 G A B A i l i i d l f I i t t t t r e c e p o r p a r a p o s v e m o u a o r o r n s o m n a A
V T 3 0 2 M A O B i h i b i S k i C i A l h i 's t t n o r – m o n g e s s a o n, z e m e r -
E V T 1 0 1 N M D A N R 2 B b t l t i t i t – A l h i 's P i s u y p e s e e c v e a n a g o n s z e m e r a n ,
E V T 1 0 3 N M D A N R 2 B b t l t i t s u y p e s e e c v e a n a g	i t o n s
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H T S & F B D D

Lead compound: EVT 201 in insomnia

z Small molec ule partial positive allosteric modulator (pPAM) of GABA Areceptors
z Addresses limitations of market-leading insomnia drugs
Sleep onset, maintenance, no hangover
Safety profile
Same dose for young and elderly
z Proof-of-concept established
Strong Phase II POC data from two studies in 149 elderly and 67 primary adult insomniacs
Strong Phase I and I/II safety and tolerability data from a total of 153 subjects

zPartner-ready, best-in-class opportunity

EVT 201 fulfills majority of unmet clinical needs

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Study results show strong efficacy in the following six areas

zSignificantly reduced Wake After Sleep Onset (WASO)
zStrong effect on sleep onset (LPS)
zReduced wake time in second half of the night
zReduced daytime sleepiness
zMinimal residual sedation at either dose
zImproved categorical ratings of sleep quality

Study EVT 2004: Robust Phase II results

Highly statistically and clinically meaningful effects on all key endpoints, indicating strong effects on both sleep onset and sleep maintenance with no subjective hangover.

P t a r a m e e r ( ) N= 6 7	P l b a c e o	E V T 2 0 1 ( ) 1. 5 m g	E V T 2 0 1 ( ) 2. 5 m g	l b t h d p a e o o s e s v u
A d j t d W A S O ( i ) * s e m e a n m n s u	6 4	4 7 ( 2 6 % )	3 8 ( 4 0 % )	0 0 0 0 1 < p
S ( ) * A d j t d T T i u s e m e a n m n s	3 9 7	1 2 ( 9 % ) 4	2 ( 1 2 % ) 4 4	0 0 0 0 1 < p
A d j t d L P S ( i ) u s e m e a n m n s	4 2	2 5 ( 4 0 % )	2 2 ( 4 9 % )	0 0 0 0 1 < p
A d j t d T t l W k T i u s e m e a n o a a e m e d f ( ) 2 h l i n a m n s	4 3	3 2 ( 2 5 % )	2 7 ( 3 8 % )	0 0 0 0 1 < p ( 2. 5 ) m g 0 0 0 0 8 p ( 1. 5 ) = m g
A d j t d S W S ( i ) s e m e a n m n s u	3 0	3 0 ( 2 4 % )	3 0 ( 0 7 % )	N S
S b j i l l i t t u e c v e s e e p q u a y ( d / d ) e r g o o g o o v y	4 1 %	7 5 %	7 9 %	0 0 0 0 1 < p
A d j d D S S T t u s e m e a n ( ) b t n m e r c o r r e c u	5 8 5	5 6 2	5 4 3	0 0 0 0 1 < p ( 2. 5 ) m g 0 0 0 2 8 p ( 1. 5 ) = m g
S b j i i d l d i t t u e c v e r e s u a s e a o n ( l / h l i % ) t t t v e r y a e r s o m e w a a e r n	3 % 5	8 % 5	4 8 %	N S

* Co-prim ary endpoint

Randomized cross-over study in 67 patients; 1.5 mg & 2.5 mg doses vs. placebo f or 2 consecutive night s with a 5-12 day was hout between each perio d

EVT 201 summary from all clinical studies: Potential advantages for chronic insomniacs

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Study EVT 2004: Objective efficacy from polysomnography Total Wake Time hour-by-hour

EVT 201 significantly reduced Total Wake Time each hourexcept of hour 7 (where p=0.058)

Study EVT 2005: Daytime sleepiness Multiple Sleep Latency Test (MSLT)

Multiple Sleep Latency Test (MSLT)

Error bars represent 95% confidence interval

Our assessment of EVT 201's best-in-class profile: Expected differentiation on safety & efficacy

zStrong sleep maintenance, more sustained effect in the 2nd half of the night

Vs. Ambien CR, Lunesta
pPAM pharmacology expected to produce less tolerance
z Reduced daytime sleepiness in elderly
Suffering from daytime sleepiness due to insomnia ¾using gold standard methodology
No similar data on Ambien CR, Lunesta published
z 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 GABAA receptor such as zolpidem

Best-in-class potential on safety & efficacy

EVT 101: Oral NR2B subtype selective NMDA receptor antagonist

z NMDA subtype selectivity of EVT 101 supports hypothesis of better side effect profile, better efficacy in Alzheimer's
z Memantine / Namenda, a non-selective NMDA antagonist in Alzheimer's disease, reached blockbuster sales in year 3
z Potential in neurodegenerative diseases, peri-operative and neuropathic pain
z Status
Phase I successfully completed
Phase Ib studies preliminary results
Phase II POC study planned to start 2008

EVT 101: 4 week Phase Ib higher repeat dose cognition study, dosing completed

z No significant adverse events or concerns from all safety monitoring assessments
zEVT 101 continues to be well tolerated with longer treatment at higher doses
z Brain penetration (CSF levels) assessed in a subgroup receiving EVT 101 daily for 8 days
• Concentrations reached in the CSF extrapolated to produce significant level of block of the NR2B receptor
• Significantly greater t han extrapolated level of block for therapeutic dose of Memantine

EVT 101: Brain imaging fMRI study in healthy volunteers completed

zStudy completed at Institute of Psychiatry London
z Single dose of placebo, 8, 15 mg EVT 101 given to 19 healthy subjects
EVT 101 well tolerated with no significant adverse effects

Signals for efficacy in two disease applications:

z Alzheimer's Disease:
z Modulation of the activity of specific brain regions (memory retrieval network) during the performance of cognitive tasks

zPain:

z Increase in baseline regional blood flow in brain area involved in pain processing (anterior cingulate cortex – rich in NR2B receptors)

Provides first evidence of effect upon brain in man

EVT 302: Selective MAO-B inhibitor smoking cessation and Alzheimer's

z Orally active, potent, highly selective MAO-B inhibitor
Potential for once weekly dosing
Competitive safety & tolerability profile over other MAO-B inhibitors –no food effect / label
z Validating MOA data in addiction & neurodegeneration
Phase II in smoking cessation (selegiline, lazabemide)
Phase III in Alzheimer's Disease
z Smoking cessation - a large consumer-driven market
z Status
Phase II started
Phase I safety + Positron Emission Tomography (PET) studies successfully completed

EVT 302 ongoing trials

zPhase II craving study

Influence on craving / withdrawal after short-term deprivation of cigarettes
Randomized, double-blind, 3-way cross-over of single doses (nicotine + placebo)
Secondary outcome: Effect when combined with Nicotine Replacement Therapy
Read-out: Q3 2008
z Tyramine interaction study
Double-blind, placebo-controlled, 60 subjects, against Selegiline
To demonstrate lack of tyramine interaction (cheese and wine effect, cardiovascular liability)
Read-out: 2008

EVT 302 trial plans Design in progress

z 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
z 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
zTo be conducted in Germany
z Clinical phase of study commences mid 2008 – subject to usual approvals
Headline data H1 2009

VR1 - Vanilloid Receptor 1 antagonist Exclusive worldwide collaboration

zPooled program signed Q2 2005
z\$20m+ lic. fees & research funding
z \$170m+ milestones
\$1.5m milestone payment (2006)
\$4.5m milestone payment (2007)
zDouble-digit royalties on w/w net sales
z Two-year joint research effort
Extended for additional year, April 2007
zMultiple clinical candidates
z Pfizer has exclusive rights to develop and commercialize products
Expect Phase I studies in mid 2008

VR1 - VanilloidReceptor 1 antagonist

Potential for safe, best-in-class analgesic, non-addictive, minimal side effects

zClinical & preclinical validation for pain
zCompetitive R&D activity
z Potentially ideal drug profile…
Strong analgesic
Non-addictive
Minimal side effects
z Broadly applicable analgesic
Inflammatory, OA, & neuropathic pain
Chronic and acute pain
z … with potential in other indications
Urinary incontinence
Asthma and others

P2X7 receptor antagonist Potential best-in-class molecule

z Strong industry interest
Best-in-class opportunity
z Multiple large potential indications
Pain, RA, IBD, COPD
zClinical candidate & back-up series
zPlanned Phase I in 2008
zPartnering opportunity

P2X2/3receptor antagonist

zValidated for multiple pain types
zStrong industry interest: 1st-in-class
zLead series with superior properties
z Multiple large potential indications
Inflammatory pain
Neuropathic pain
Urinary incontinence
zPlanning Phase 1 in 2009

High-value and strategic partnerships: Milestones expected in 2008, 2009

Post-merger partnership profile

Research results for a top quality customer network

Financial guidance for 2007 achieved

Evotec Group (in €m)

	2 0 0 6 *	2 0 0 7	∆	G i d a n c e u
R e v e n u e s	8 5	5 4	3 6 % -	–
C i i b i * t o n n n g s n e s s u u -	4 1	3 3	1 9 % -	3 0 3 5 –
& R D e x p e n s e s	3 3	3 7	1 0 % +	–
N i t e n c o m e	( 2 8 )	( 1 1 )	6 0 % +	–
L i i d i t t d q u y a y e a r e n	7 9	9 4	1 9 % +	9 3 9 8 –

* As restated

** Chemical Develop ment Business (CPD) o nly 11 mo nths

*** 2006 excl. ET/CPD 2007 excl. CPD

Financial guidance 2008 (incl. Renovis)

Combined newsflow2008

Partnership EVT 201

EVT 302: - Initiate Ph II quit rate study
-Ph II craving data
Tyramine interaction data

EVT 101: Initiate Phase II POC

VR1: Initiate Phase I

P2X7: Initiate Phase I

H2 2008

NASDAQ listing ⁹

Merger close ⁹

EVT 101: - Ph Ib fMRI cognition data⁹ Ph Ibhigher repeat dose data

EVT 302: -Ph I safety data ⁹

H1 2008

Single / repeat dose PET data ⁹

Initiate Ph II craving study ⁹

5/23/2008Page 28

A compelling CNS investment

zGlobal CNS pure play
z Lead insomnia compound EVT 201
Partner-ready, best-in-class
z Broad and deep pipeline, with clinical momentum
Proprietary and partnered
zFully integrated discovery-through-development core competencies
zMultiple partners generating collaborative revenues: Roche, BI, Pfizer, CHDI
z Strong pro-forma cash position of €119 m (31/3/2008); Nasdaq liquidity

Tomorrow's Drugs Today™

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