Evotec and Boehringer Ingelheim Enter Into Target Discovery Collaboration in Alzheimer's Disease
HAMBURG, Germany and OXFORD, England, March 19, 2007 /PRNewswire-FirstCall/ -- Evotec AG today announced a multi-year collaboration with Boehringer Ingelheim to jointly identify novel targets as potential points of intervention in the treatment of Alzheimer's disease (AD). The collaboration will also involve the Research Institute of Molecular Pathology in Vienna (IMP).
Evotec scientists together with the IMP will apply their proprietary and well validated disease models to identify novel AD targets. Based on these models, Boehringer Ingelheim will select and further validate target candidates for its in-house drug discovery programme with the goal of developing innovative novel therapeutics. Financial details of this collaboration are not disclosed.
The contract also includes an option for Evotec to support Boehringer Ingelheim (BI) in the target validation process. If BI exercises this option, Evotec is eligible for milestone payments of up to EUR 20 million plus royalties.
"Over the past years, Evotec has built significant expertise in the field of Alzheimer's and other neurodegenerative diseases, and our innovative discovery tools and approaches have successfully been proven together with renowned industry partners. We are delighted that this collaboration expands our ongoing successful partnership with Boehringer Ingelheim into another area of our strength," said Jorn Aldag, President and Chief Executive Officer of Evotec.
Contact: Evotec AG Anne Hennecke SVP, Investor Relations & Corporate Communications Phone: +49-(0)40-56081-286 Fax: +49-(0)40-56081-333 E-Mail:email@example.com
CONTACT: Contact: Evotec AG, Anne Hennecke, SVP, Investor Relations &Corporate Communications, Phone: +49-(0)40-56081-286, Fax:+49-(0)40-56081-333, E-Mail: firstname.lastname@example.org
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Posted: March 2007