Evotec Receives Milestone Payment as Part of its Discovery Alliance with Boehringer Ingelheim

Hamburg, Germany – 26 September 2012: Evotec AG (Frankfurt Stock  Exchange:  EVT,  TecDAX)  today  announced  that  its  research alliance with Boehringer Ingelheim has reached a milestone triggering a  payment  of  EUR  2.5  million  to  Evotec.  The  milestone  was  for  the transition of an oncology programme into pre-clinical profiling.
 
Dr    Mario    Polywka,    Chief    Operating    Officer    of    Evotec commented: “This is the seventeenth milestone achieved as part of our  alliance  with  Boehringer  Ingelheim  and  represents  an  important transition of a compound into pre-clinical profiling. We are pleased the collaborative  efforts  of  teams  from  Evotec  and  Boehringer  Ingelheim continue  to  show  success  in  progressing  compounds  towards  the clinic”.
 
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   commercialization   of   the   compounds identified. In return, Evotec receives ongoing research payments and preclinical 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    Boehringer    Ingelheim,    CHDI,    Genentech,    Janssen Medimmune/AstraZeneca, and Ono Pharmaceutical. 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  (Teva)  in  the  field  of  diabetes,  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:
Dr. Werner Lanthaler
Chief Executive Officer
T: +49.(0)40.5 60 81-242
F: +49.(0)40.5 60 81-333
werner.lanthaler@evotec.com


 
 
 
 

Posted: September 2012


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