Ad-hoc | 28 March 2001 08:22

Ad hoc-Service: EVOTEC BioSystems AG english

Ad hoc announcement processed and transmitted by DGAP. The issuer has the sole responsibility of this announcement. ——————————————————————————– MediGene applies Evotec OAls leading technologies for the identification of novel drugs to treat cardiovascular diseases Hamburg/Munich, March 28, 2001. MediGene AG (NMarkt: MDG) and EVOTEC BioSystems AG (Evotec OAI) (NMarkt: EVT) announced today, that MediGene will collaborate with Evotec OAI to identify novel drugs for the treatment of cardiac diseases. Evotec OAI will search for therapeutic molecules relating to a certain target identified by MediGene with the aim of bringing potential benefit for as yet unmet medical needs. The agreement contains an option for the inclusion of up to four more targets. Evotec OAI will apply its EVOscreen technology as well as its compound library for screening. It is the first time that the combined entity Evotec OAI, which was formed recently through the merger of EVOTEC and Oxford Asymmetry International, will apply skills from both sides of the business, namely chemistry expertise and compound library from OAI, and the EVOscreen technology from EVOTEC in one agreement. MediGene will keep all rights to the targets and in addition will receive all rights to the identified therapeutic substances, which the company intends to further develop on their own or together with pharma partners. Apart from a fixed payment for the agreed services, Evotec OAI will receive success dependent milestone payments and royalties. Further financial details were not disclosed. end of ad hoc announcement, (c) DGAP 28.03.2001 ——————————————————————————– WKN: 566480; Index: NEMAX-50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 280822 Mär 01