Evotec’s 30,000-square-foot facility at 200 Staples Dr. in Framingham houses its wholly owned subsidiary, Cyprotex.
Drug discovery and development firm Evotec is closing its Framingham operations as the Germany-based company lays off 800 employees worldwide.
Evotec’s 30,000-square-foot facility at 200 Staples Dr. in Framingham houses its wholly owned subsidiary, Cyprotex, a drug discovery and development company Evotec acquired in 2016.
Cyprotex has been based in Framingham since 2023, when Evotec relocated it from Watertown.
Evotec announced its Framingham closure in a March 10 presentation outlining its restructuring plan. The firm plans to reduce its global footprint from 14 sites to 10 over the next two years, laying off approximately 800 employees.
Evotec did not say how many employees would be affected in Framingham. Evotec operates a Cyprotex location in the United Kingdom, and the subsidiary employs a total of 144 workers, according to PitchBook.
The restructuring is an effort to simplify Evotec’s expenses and focus its resources toward higher-value intellectual property, said Evotec CFO Paul Hitchin.
With Evotec’s reduction in locations and workforce, the company expects to increase its revenue to $1.68 billion by 2030. In fiscal 2025, the firm generated $921 million.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare, manufacturing, and higher education industries.
