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
