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Evotec And Vifor Pharma Enter Into Two Year Cooperation Agreement

From EquityBites (February 2, 2010)

Discoverer and developer of small molecule drugs Evotec AG (Frankfurt: EVT) (TecDAX) announced today that it has signed an agreement with Vifor Pharma, a pharmaceutical company.

Under the terms of the agreement, which has a project value in excess of EUR5.5m, Evotec will provide and project manage the discovery activities to identify a preclinical candidate for the treatment of anaemia.

The companies said that as a result of confidentiality reasons they will not reveal further details about the research project.

The agreement applies Evotec’s integrated drug discovery expertise and technologies to progress novel small molecules for the treatment of anaemia from discovery into lead optimisation.

Evotec will use scientists based at both its European and Indian sites covering in vitro biology, medicinal chemistry, in vitro and in vivo pharmacology and the programme will be funded through research funding and success based milestones.

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Posted: February 2010