Evotec Achieves Further Milestones in TargetAD Collaboration With Janssen
January 15 2015 - 12:35AM
Evotec AG (Frankfurt:EVT) (TecDAX) (ISIN:DE0005664809) today
announced the achievement of several small, but very important
milestones in its
TargetAD collaboration with
Janssen Pharmaceuticals, Inc. ("Janssen") for the identification
and selection of novel targets from Evotec's TargetAD database and
for the transition of targets into the drug discovery process.
These milestones were reached in 2014 which will be recognised in
the financial year 2014.
These selections were achieved under the agreement between
Evotec and Janssen, facilitated by Johnson & Johnson Innovation
LLC, signed in November 2013. Under the terms of the agreement,
Janssen and Evotec continue to collaborate to develop new drugs for
Alzheimer's disease.
Janssen has the option to internalize selected targets and
therapeutic candidates and progress them into pre-clinical and
clinical development. Janssen funds target drug discovery research
via a combination of defined research payments and progress-related
milestones.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec,
commented: "It was only in July 2014 that we announced the
achievement of the first milestones in our TargetAD collaboration
together with Janssen. The recent achievement of two further
milestones further validates our approach and is a testament to a
highly productive collaboration. I would like to congratulate the
teams from both companies on the excellent progress and wish them
continued success moving forward in their quest for innovative
Alzheimer's disease therapies."
ABOUT EVOTEC'S TARGETAD DATABASE
The TargetAD database is a customized system providing unique
information on the link between molecular and cellular changes in
brain tissue with AD progression. This database was set up in a
multi-year research programme, applying histological, cellular and
in vivo target validation procedures. The database provides a
strong foundation for systematic collaborative target validation
and compound discovery programmes.
ABOUT ALZHEIMER'S DISEASE
Alzheimer's disease ("AD") is an irreversible, progressive brain
disease and the main cause for dementia. It slowly destroys brain
cells and nerves and thus disrupts the transmission in the brain,
particularly those responsible for storing memories. In the course
of AD, the brain shrinks as gaps develop in the temporal lobe and
hippocampus, which are responsible for storing and retrieving new
information. Beside degeneration of neurons, typical pathological
hallmarks for AD are beta amyloid plaques and neurofibrillary
tangles composed by Tau protein in the brain. The cause and
progression of AD however are still not completely understood. Like
other chronic conditions, scientists believe that AD doesn't have
one predominant cause, but is rather a complex result of various
factors. At the moment, there is no cure available for AD and most
other causes for dementia. Current treatments only tackle the
symptoms of the disease.
According to Alzheimer's Disease International, there were 44
million people diagnosed with dementia in 2013 worldwide. It is
estimated that this number is going to increase to more than 135
million people in 2050. Approximately 7.7 million new cases of
dementia are diagnosed each year. Concerning the dementia market
volume, $ 604 bn were spent on the treatment of dementia in
2010. All in all, these costs equal about 1% of the world's GDP
(average of GDP from countries worldwide).
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.
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 press release. 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)
Eaton Vance Tax Advantag... (NYSE:EVT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Eaton Vance Tax Advantag... (NYSE:EVT)
Historical Stock Chart
From Jul 2023 to Jul 2024