Corporate | 4 December 2002 09:03

Evotec OAI AG english

Evotec OAI to Collaborate with Prolysis in the Development of New Antibiotics Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Hamburg, Germany | Oxford, UK – Evotec OAI AG (NM: EVT), a partner for integrated high-value-added drug discovery services to the pharmaceutical and biotechnology industries, and Prolysis Ltd. (Oxford, UK), a biotechnology company dedicated to the discovery and development of new antibiotics, an- nounced that they have entered into a three-year drug discovery agreement worth approximately EUR 5 million. During the course of this agreement Prolysis will gain access to over 20 man-years of dedicated expert chemistry resource. The agreement may be extended into development increasing its value to approximately EUR 10 million. In the search for new antibiotic drugs the Evotec OAI team will apply its world- class biology, medicinal and computational chemistry skills to design and synthesise compounds against selected Prolysis targets. In this integrated bi- ology and chemistry collaboration, Evotec OAI will optimise the drug-like and ADME/Tox properties of those substances using its cutting edge early ADME/Tox platform. Evotec OAI will receive fees for services as well as an equity stake in Prolysis. Joern Aldag, President and Chief Executive Officer of Evotec OAI, commented: “We are pleased that Prolysis has chosen Evotec OAI as its preferred partner for drug discovery. With this strategic collaboration we have once more demonstrated the attractiveness of our business model to offer innovative deal structures to target-oriented biotech companies creating substantial value for both companies in a long-term relationship.” Professor Russell Smith, Prolysis’ Acting Chief Executive Officer, added: “We are delighted to be working with Evotec OAI. Their excellent medicinal and computational chemistry skills combined with an integrated ADME/Tox platform will accelerate and add significant value to our drug discovery programmes.” Contact: Evotec OAI AG Anne Hennecke +49 40 56081-286 E-mail: anne.hennecke@evotecoai.com end of message, (c)DGAP 04.12.2002 ——————————————————————————– WKN: 566480; ISIN: DE0005664809; Index: NEMAX-50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 040903 Dez 02