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Evotec SE M&A Activity 2007

Oct 10, 2007

151_ip_2007-10-10_46a6f9ec-e327-4af6-b963-6ae591f5a8c7.pdf

M&A Activity

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Evotec and RenovisA Compelling CNS Investment

Forward-looking statements

Information set forth in this communication 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 Evotec´s products, the timing of the completion of the transaction between Evotec and Renovis, the anticipated benefits of the business combination transaction involving Evotec and Renovis, 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 preclinical programs, and other statements that are not historical facts. Evotec and Renovis 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: the ability to obtain regulatory approvals of the transaction on the proposed terms and schedule; the parties' ability to complete the transaction because conditions to the closing of the transaction may not be satisfied; the failure to successfully integrate the businesses; unexpected costs or liabilities resulting from the transaction; the risk that synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction 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 international operations. The risks included above are not exhaustive. The most recent reports on Form 10-K, Form 10-Q, Form 8-K and other periodic reports filed by Renovis with the Securities and Exchange Commission contain additional factors that could impact the combined company's businesses and financial performance. The parties expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the parties' expectations or any change in events, conditions or circumstances on which any such statement is based.

Additional Information

Renovis is filing today a Current Report on Form 8-K that will include as an exhibit the Agreement and Plan of Merger between Evotec and Renovis. Evotec intends to file 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.

In addition to the documents referenced above, Renovis files or furnishes annual, quarterly and current reports, proxy statements and other information with the Securities and Exchange Commission. You may read and copy any reports, statements or other information filed or furnished by 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. Renovis's SEC filings are also availableto the public at the SEC's web site at www.sec.gov, or at their web site at www.renovis.com.

Why combine the companies?

Note: Revenues are converted at 1EUR= 1.38 US\$, Evotec's cash at period end rate.

The combination: Multi-faceted pipeline, strong fit and differentiating science

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Transaction details

  • z 34.57m Evotec shares to be exchanged for 32.79m Renovis shares (fully diluted) implying an equity value of Renovis of US\$ 151.8m
  • zEvotec AG will apply to list on NASDAQ with level 2 ADR
  • z Post merger pro-forma figures:
  • Number of shares outstanding: 108.27m
  • Cash, cash equivalents & short-term investments as of Aug 2007: US\$ 175m*
  • Headcount as of Aug 2007: approx. 630
  • z Renovis Board Members will occupy two of six seats in Evotec's Supervisory Board
  • z Closing conditions:
  • Renovis' shareholders expected to vote in Q4 2007 / Q1 2008
  • Transaction expected to close in Q4 2007 / Q1 2008

Note: Not including proceeds from the disposal of Evotec's Chemical Development business to Aptuit for approx. US\$ 64 m and transaction cost.

Management-led strategic transformation

Management-led strategic transformation

Management-led strategic transformation

*Note: Not including proceeds from the disposal of Evotec's Chemical D evelopment business to Aptuit for a prox. US\$ 64 m and transaction cost.

10/5/2007Page 8

Anticipated investment highlights: Post-merger

  • z Differentiated lead insomnia compound EVT 201
  • Near-term POC data, October 2007
  • Partnership potential
  • z Pipeline momentum: diversity of indications, clinical opportunity, research Integrated discovery – development expertise / capabilities
  • z Fully integrated discovery-through-development core competencies Differentiating science as core competency organization-wide
  • z Multiple partners generating collaborative revenues: Roche, BI, Pfizer
  • Self-funded new pre-IND programs
  • zStrong financial position of US\$ 175m* (08/2007) in cash; Nasdaq liquidity
  • zExperienced management team

Note: Not including proceeds from the disposal of Evotec's Chemical Development business to Aptuit for approx. US\$ 64 m and transaction costs.

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
  • Potential for one dose for all patients
  • zNear-term POC data in elderly, 10/07
  • z Encouraging clinical data to-date
  • Phase II in 67 primary adult insomniacs:
    • -Strong first POC in patients
  • Phase I and I/II studies in a total of 153 subjects, consistent with Phase II results
    • Strong safety profile, well tolerated, strong maintenance
  • zPartner-ready

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.

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* Co-primary endpoint

Randomized cross-over study in 67 patients; 1.5 mg & 2.5 mg doses vs. placebo for 2 consecutive nights with a 5-12 day washout between each period

Study EVT 2004: Objective efficacy from polysomnography WASO* in first and second half of the night

Both doses ofEVT 201 significantly reduced WASO in the second half of the night

*WakeAfter Sleep Onset

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 2004: Subjective residual effects Patient reported residual sedation

No subjective residual sedation at either dose of EVT 201

Study EVT 2004: Subjective efficacy Patient reported sleep quality

Both doses markedly & significantly improved categorical ratings of sleep quality

Comparative efficacy % and actual change from placebo

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WASO = WakeAfter Sleep Onset; LPS = Latency to Persistent Sleep

zEVT 201 – comparable or much stronger effect on WASO

zEVT 201 - comparable or stronger effect on LPS

vs. Almorexant, Lunesta, Zolpidem and Indiplon MR (elderly)

EVT 201 - Potential advantages for chronic insomniacs

  • zRobust efficacy: sleep onset, maintenance, no hangover
  • zImproved sleep quality: Subjectively rated
  • z Novel, but "Gold Standard" insomnia MOA
  • Highly validated pathway
  • Lower side effect risk
  • z One drug to address market needs
  • Optimal PK for all patients
  • No need for sustained release
  • z Differentiation vs. other GABA-based treatments: partial modulation
  • High affinity, α1 preferring partial positive allosteric modulator
  • Lower maximum level of GABAAreceptor system potentiation
  • Reduced side-effect potential (e.g. dependence, tolerance, alcohol interaction, disturbance of sleep architecture)

Robust small molecule CNS pipeline

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EVT 101: A Selective NMDA receptor antagonist

  • z Oral NR2B subtype selective NMDA receptor antagonist
  • Memantine / Namenda, a non-selective NMDA drug in Alzheimer's disease, reached blockbuster sales in year 3
  • z Potential in neurodegenerative diseases, peri-operative and neuropathic pain

zStatus

Revenues 2006

  • Successfully completed Phase I studies
  • First short-term Phase Ib dose-finding study in cognition ongoing
  • Second short-term Phase IIa study in pain planned to start in H2 2007

Namenda/Ebixa US\$ 0.9bn

NR1 NR2A[3H]Ro 25-6981

10/5/2007Page 19

EVT 302: 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
  • zAddiction - a large consumer-driven market

zStatus

  • Phase I safety/PET data in Q4 2007
  • Planned POC Phase II in smoking cessation: mid-2008

Revenues 2010e

Small Molecule Pipeline

VR1 - VanilloidReceptor 1 antagonist

  • z Potential for safe, best-in-class analgesic, non-addictive, minimal side effects
  • z Multiple potential indications
  • Inflammatory, OA, & neuropathic pain
  • Chronic and acute pain
  • Potential in urinary incontinence, asthma

Celebrex US\$ 2.1bn

zStatus

Revenues 2006

  • Expanded Pfizer partnership
  • Multiple clinical candidates
  • Planned Phase I: Q2 2008

Small Molecule Pipeline

P2X7receptor antagonist

  • zPotential best-in-class molecule
  • z Opportunities in multiple large indications
  • Inflammatory and neuropathic pain
  • Rheumatoid Arthritis
  • Irritable Bowel Disease
  • COPD

zStatus

  • Clinical candidate identified
  • Planned Phase I in 2008
  • Back-up series

Total market 2006Rheumatoid Arthritis US\$ 12bn

Small Molecule Pipeline

P2X2/3receptor antagonist

  • z First-in-class and best-in-class P2X2/3 receptor antagonist
  • zPotential in pain and overactive bladder

zStatus

Total market

2006

  • Industry has struggled to find drug-like molecules
  • Lead series with superior properties
  • Potential clinical candidate within next 12 months, Phase I to start in H1 2009

Neuropathic pain US\$ 3.0bn

Discovery Engine

Powerful CNS capabilities: R&D to POC

  • z Well-respected, recognized drug discovery capabilities
  • High-content, high-throughput assays and screening platforms
  • Fragment-based Drug Discovery
  • Leading medicinal chemistry expertise
  • z Extensive disease biology expertise in CNS, pain, inflammation
  • Target ID and validation
  • Relevant animal models /pharmacology
  • Clinical expertise in neurology
  • zSystem-based science with NIH/NINDS, ETH Zurich, IMBA Vienna
  • zOne of the strongest partner networks in the industry

Partner Network

Validated research track record, ongoing revenue source

Partner Network

High-value partnerships: Aggressive milestones for 2008 and 2009

Post-merger partnership profile

H1 results Evotec and Renovis

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*** SG&A range due to preliminary allocation following the recent sale of Chemical development business to Aptuit.

Note: All P&L exchanges are based on average currency exchange rates for the first six months

Pro-forma key figures combined company

  • z R&D budget under review
  • Project prioritization will determine combined budget
  • zCash as of August 2007: US\$ 175m*
  • zNumber of shares outstanding: 108.27m
  • zMarket capitalization as of 18/09/2007: EUR 342.1m

*Not including proceeds from the disposal of Evotec's Chemical Development business to Aptuit for approx. US\$ 64 m and transaction costs. Note: All exchanges are based on currency exchange rates of period end August 2007.

Experienced industry advisors

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*Also to join Evotec's Scientific Advisory Board

Proven Senior Management

Newsflow2007 - 2008

10/5/2007Page 31

Our "1/2/3/4 in 08"plan Subject to contingencies

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Evotec & RenovisA compelling CNS investment

  • zGlobal CNS pure play, with anticipated Nasdaq liquidity
  • z Broad and deep pipeline, with clinical momentum
  • Proprietary and partnered
  • zUpside in additional biotech / pharma partnerships
  • z Integrated discovery-through-development, differentiating core competencies
  • z Mgmt-led transformative corporate development
  • Perkin Elmer, RSIL India, Aptuit, POC in Insomnia, etc.
  • zDifferentiated science driving success: to-date and future
  • zStrong financial position: US\$ 175m* pro-forma cash as of August 2007

*Not including proceeds from the disposal of Evotec's Chemical Development business to Aptuit for approx. US\$ 64 m and transaction costs.

Evotec and RenovisA Compelling CNS Investment