Evotec and Padlock Therapeutics Announce Initial Success and Extension of Long-Term Collaboration
January 07 2015 - 12:37AM
Evotec AG (Frankfurt:EVT) (TecDAX) (ISIN:DE0005664809) and Padlock
Therapeutics, Inc. ("Padlock") announced today that they have
successfully completed an initial goal in a programme focused on
developing inhibitors of protein-arginine deiminases (PADs) and
have further extended the collaboration that was first signed in
January 2014. Padlock is a company that is developing medicines
targeting protein-arginine deiminases (PADs), enzymes with an
important role in the generation of autoantigens, inflammation and
immune complex formation in autoimmune diseases.
The collaboration initially began in January 2014 and now
extends through March 2017. As part of the collaboration, Evotec
provides a full range of research activities and expertise to
Padlock including in vitro biology, high-throughput screening,
structural biology, medicinal and computational chemistry and DMPK.
Over the next period, Evotec and Padlock will progress multiple
programmes through hit-to-lead and lead optimisation with the goal
of delivering multiple development candidates. Under the terms of
the initial agreement, Evotec was awarded a success payment and
equity grant in addition to research payments. In the next phase of
this agreement, Evotec is eligible for over $ 13 m in
research payments and milestones.
Dr Mario Polywka, Chief Operating Officer of Evotec,
commented: "We are excited to continue collaborating with
Padlock. This collaboration highlights how Evotec's integrated drug
discovery platform provides a unique complement to Padlock's
innovative approach to this target class and associated therapeutic
area. We look forward to mutual success over the coming years."
Dr Michael Gilman, Chief Executive Office Padlock
Therapeutics, added: "Evotec has been an innovative and
supportive partner during Padlock's successful seed phase. We look
forward to continuing our work with Evotec scientists toward
PAD-targeted medicines as fundamentally new therapies for patients
with autoimmune disease."
No further financial details were disclosed.
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, inflammation and infectious
diseases. 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 and MedImmune 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.
ABOUT PADLOCK THERAPEUTICS, INC.
Padlock Therapeutics is a private, Cambridge,
Massachusetts-based biotechnology company dedicated to creating new
medicines to treat destructive autoimmune diseases. The company
leverages the breakthrough science on the role of protein
citrullination in disease to develop drugs targeting
protein-arginine deiminase (PAD) enzymes. Padlock was founded by
scientists at The Scripps Research Institute in conjunction with
Atlas Venture. Padlock's Series A investors include Atlas
Ventures, Johnson & Johnson Innovation - JJDC, MS Ventures, and
Index Ventures. For more information on Padlock, visit
www.padlocktherapeutics.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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