Evotec Receives Milestone Payment as Part of Its Discovery Alliance With Boehringer Ingelheim
June 19 2014 - 12:39AM
Evotec AG (Frankfurt:EVT) (TecDAX) (ISIN:DE0005664809) today
announced that its research alliance with Boehringer Ingelheim has
reached a milestone triggering a payment of € 1.0 m to Evotec. The
milestone was for the transition of a back-up compound from a
respiratory programme into pre-clinical development.
Dr Mario Polywka, Chief Operating Officer of Evotec,
commented: "We have now achieved twenty three milestones
as part of the collaboration with Boehringer Ingelheim. The
completed research phase of this alliance has led to significant
potential clinical milestones and royalties for compounds that are
already in pre-clinical and clinical development if they progress
successfully."
ABOUT THE EVOTEC & BOEHRINGER INGELHEIM
ALLIANCE
In 2004, Evotec entered into a multi-year, multi-target drug
discovery alliance with Boehringer Ingelheim to jointly identify
and develop preclinical development candidates for the treatment of
various disease areas including CNS, inflammation, cardiometabolic
and respiratory diseases. In 2009, the collaboration was extended
for an additional four years and the scope expanded to include
oncology targets. Under the terms of the agreement, Boehringer
Ingelheim has full ownership and global responsibility for clinical
development, manufacturing and commercialisation of the compounds
identified. In return, Evotec receives ongoing research payments
and pre-clinical milestones. Furthermore, the contract provides
substantial long-term upside for Evotec through potential payments
for successful milestone achievements during clinical development
and royalties when new drugs reach the market.
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership
company focused on rapidly progressing innovative product
approaches with leading pharmaceutical and biotechnology companies.
We operate worldwide providing the highest quality stand-alone and
integrated drug discovery solutions, covering all activities from
target-to-clinic. The Company has established a unique position by
assembling top-class scientific experts and integrating
state-of-the-art technologies as well as substantial experience and
expertise in key therapeutic areas including neuroscience, pain,
metabolic diseases as well as oncology and inflammation. Evotec has
long-term discovery alliances with partners including Bayer,
Boehringer Ingelheim, CHDI, Genentech, Janssen Pharmaceuticals,
MedImmune/AstraZeneca, Roche and UCB. In addition, the Company has
existing development partnerships and product candidates both in
clinical and pre-clinical development. These include partnerships
with Boehringer Ingelheim, MedImmune and Andromeda in the field of
diabetes, with Janssen Pharmaceuticals in the field of depression
and with Roche in the field of Alzheimer's disease. For additional
information please go to www.evotec.com.
FORWARD-LOOKING STATEMENTS: Information set
forth in this press release contains forward-looking statements,
which involve a number of risks and uncertainties. The
forward-looking statements contained herein represent the judgement
of Evotec as of the date of this report. Such forward-looking
statements are neither promises nor guarantees, but are subject to
a variety of risks and uncertainties, many of which are beyond our
control, and which could cause actual results to differ materially
from those contemplated in these forward-looking statements. 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.
CONTACT: For further information, please contact
Gabriele Hansen
VP, Corporate Communications & Investor Relations
+49.(0)40.560 81-255
+49.(0)40.560 81-333 Fax
gabriele.hansen@evotec.com
Evotec AG
Manfred Eigen Campus
Essener Bogen 7
22419 Hamburg (Germany)
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