Corporate | 26 September 2012 07:30
Evotec AG / Key word(s): Alliance
26.09.2012 / 07:30
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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.
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 Evotec AG
Gabriele Hansen, Head of Corporate Communications, Phone:
+49.(0)40.56081-255, gabriele.hansen@evotec.com
End of Corporate News
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Language: English
Company: Evotec AG
Manfred Eigen Campus / Essener Bogen 7
22419 Hamburg
Germany
Phone: +49 (0)40 560 81-0
Fax: +49 (0)40 560 81-222
E-mail: info@evotec.com
Internet: www.evotec.com
ISIN: DE0005664809
WKN: 566480
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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186475 26.09.2012