Corporate | 7 January 2015 07:29
DGAP-News: Evotec AG / Key word(s): Miscellaneous
07.01.2015 / 07:29
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Hamburg, Germany - 07 January 2015: Evotec AG (Frankfurt Stock Exchange:
EVT, TecDAX, ISIN: DE0005664809) and Padlock Therapeutics, Inc. ("Padlock")
announced today that they have successfully completed an initial goal in a
programme focused on developing inhibitors of protein-arginine deiminases
(PADs) and have further extended the collaboration that was first signed in
January 2014. Padlock is a company that is developing medicines targeting
protein-arginine deiminases (PADs), enzymes with an important role in the
generation of autoantigens, inflammation and immune complex formation in
autoimmune diseases.
The collaboration initially began in January 2014 and now extends through
March 2017. As part of the collaboration, Evotec provides a full range of
research activities and expertise to Padlock including in vitro biology,
high-throughput screening, structural biology, medicinal and computational
chemistry and DMPK. Over the next period, Evotec and Padlock will progress
multiple programmes through hit-to-lead and lead optimisation with the goal
of delivering multiple development candidates. Under the terms of the
initial agreement, Evotec was awarded a success payment and equity grant in
addition to research payments. In the next phase of this agreement, Evotec
is eligible for over $ 13 m in research payments and milestones.
Dr Mario Polywka, Chief Operating Officer of Evotec, commented: "We are
excited to continue collaborating with Padlock. This collaboration
highlights how Evotec's integrated drug discovery platform provides a
unique complement to Padlock's innovative approach to this target class and
associated therapeutic area. We look forward to mutual success over the
coming years."
Dr Michael Gilman, Chief Executive Office Padlock Therapeutics, added:
"Evotec has been an innovative and supportive partner during Padlock's
successful seed phase. We look forward to continuing our work with Evotec
scientists toward PAD-targeted medicines as fundamentally new therapies for
patients with autoimmune disease."
No further financial details were disclosed.
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company
focused on rapidly progressing innovative product approaches with leading
pharmaceutical and biotechnology companies. We operate worldwide providing
the highest quality stand-alone and integrated drug discovery solutions,
covering all activities from target-to-clinic. The Company has established
a unique position by assembling top-class scientific experts and
integrating state-of-the-art technologies as well as substantial experience
and expertise in key therapeutic areas including neuroscience, pain,
metabolic diseases as well as oncology, inflammation and infectious
diseases. Evotec has long-term discovery alliances with partners including
Bayer, Boehringer Ingelheim, CHDI, Genentech, Janssen Pharmaceuticals,
MedImmune/AstraZeneca, Roche and UCB. In addition, the Company has existing
development partnerships and product candidates both in clinical and
pre-clinical development. These include partnerships with Boehringer
Ingelheim and MedImmune in the field of diabetes, with Janssen
Pharmaceuticals in the field of depression and with Roche in the field of
Alzheimer's disease. For additional information please go to
www.evotec.com.
ABOUT PADLOCK THERAPEUTICS, INC.
Padlock Therapeutics is a private, Cambridge, Massachusetts-based
biotechnology company dedicated to creating new medicines to treat
destructive autoimmune diseases. The company leverages the breakthrough
science on the role of protein citrullination in disease to develop drugs
targeting protein-arginine deiminase (PAD) enzymes. Padlock was founded by
scientists at The Scripps Research Institute in conjunction with Atlas
Venture. Padlock's Series A investors include Atlas Ventures, Johnson &
Johnson Innovation - JJDC, MS Ventures, and Index Ventures. For more
information on Padlock, visit www.padlocktherapeutics.com.
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, VP Corporate Communications & Investor Relations, Phone:
+49.(0)40.56081-255, gabriele.hansen@evotec.com
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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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