Benzinga | Apr 20, 2021 06:35AM EDT

Evotec To Build Another Biologics Manufacturing Facility In Europe, With First In US

* Evotec SE (OTC:EVTCY) has initiated the construction of its J.POD 2 EU biologics manufacturing facility at the company's Campus Curie in Toulouse, France.

* J.POD 2 EU is Evotec's second biomanufacturing facility and first commercial biomanufacturing facility in Europe.

* The construction of Evotec's first J.POD 1 US facility in Redmond, Washington, is on schedule and will be fully operational in H2 2021.

* In addition to J.POD technology, the company is building data-driven scientific capabilities to meet future viral threats, including fast discovery, optimization, and development of novel therapeutic agents.

* The construction of J.POD 2 EU will be supported with up to (euro)50 million from the French government, the Occitanie Region, Bpifrance, the Haute-Garonne prefecture, and Toulouse M?tropole.

* The total investment that Evotec plans to undertake is currently estimated at around (euro)150 million.

* Construction of the J.POD 2 EU facility is expected to begin in H2 2021 and is expected to be fully operational in 2023.

* Price Action: EVTCY shares are up 6% at $40.7 in premarket trading on the last check Tuesday.