Evotec AG : Evotec Receives 4th Milestone Payment in 2011 as Part of its Discovery Alliance with Boehringer Ingelheim
January 11, 2012 at 08:49 am EST
By
Share
Hamburg, Germany - 11 January 2012: Evotec AG (Frankfurt
Stock Exchange: EVT, TecDAX) today announced that its
research alliance with Boehringer Ingelheim has achieved a
milestone triggering a payment of EUR 2.5 million to
Evotec. The milestone was achieved for the identification
and selection of a compound to be advanced into extended
profiling prior to pre-clinical development within an
oncology programme. This is the fourth milestone achieved
in 2011 and represents a total of EUR 10.5 million of
milestones achieved within the year.
Dr Mario Polywka, Chief Operating Officer of Evotec
commented: "This is the fifth milestone achieved
against an oncology target within our collaboration with
Boehringer Ingelheim. Evotec values this collaboration very
highly and both companies continue to enjoy a fruitful
scientific and working relationship as we drive important
new drug candidates to 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 commercialisation 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.
distribué par
Ce noodl a été diffusé par Evotec AG et initialement mise en ligne sur le site http://www.evotec.com. La version originale est disponible ici.
Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-11 14:42:20 PM et restera accessible depuis ce lien permanent.
Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité.
Evotec SE is a Germany-based drug discovery and development company. The company is engaged in development of new pharmaceutical products through research alliances and development partnerships with pharmaceutical and biotechnology companies, academic institutions, patient organizations and venture capital companies. The drug discovery solutions are provided in the form of fee-for-service work, integrated drug discovery alliances, development partnerships, licensing of drug candidates and consulting arrangements. Evotec SE operates in a number of areas, including neuroscience, diabetes and complications of diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases and fibrosis. Its pipeline covers a range of therapeutic areas, such as CNS Insomnia, Chronic cough, immunology & inflammation, womenâs health endometriosis, nephrology, dermatological diseases, fibrotic disease and antiviral, among others.
EVOTEC SE 
By 
