DGAP-News: Evotec and Aspireo enter into strategic advisory agreement
(firmenpresse) - DGAP-News: Evotec AG / Key word(s): Alliance
Evotec and Aspireo enter into strategic advisory agreement
28.09.2012 / 07:28
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* Teaming up to partner Aspireo's Somatoprim (DG3173)
Hamburg, Germany&Tel Aviv, Israel - 28 September 2012: Evotec AG
(Frankfurt Stock Exchange: EVT, TecDAX) and Aspireo Pharmaceuticals Limited
('Aspireo'), an Israeli biopharmaceutical company focused on the
development of a novel somatostatin analogue (SSA), announced today that
they have entered into a strategic advisory agreement for support in the
development and partnering of Aspireo's Somatoprim.
Somatoprim (DG3173) is a new molecular entity somatostatin analogue with a
unique, potentially best-in-class, pharmacological profile currently in
phase I of clinical development. Somatostatin analogues have been approved
for the treatment of Acromegaly, carcinoid tumours, and Cushing's disease
but also have demonstrated significant potential in Diabetic Retinopathy.
Somatostatin analogues are generating more than USD 1.5 billion in annual
sales in a continually growing market.
Under the terms of the agreement, Evotec will provide Aspireo with
strategic and operational advice on the partnering of Somatoprim. In
addition, Evotec will consult Aspireo on matters of clinical and
pre-clinical development. In return for such services, Evotec will retain
advisory fees as well as participate in the economic success of Somatoprim.
Dr Werner Lanthaler, CEO of Evotec, commented: 'This agreement marks a new
business model for asset centric biotech companies who want to combine
capital efficiency with access to high quality and often very specialised
pre-clinical, clinical, regulatory and commercial expertise. Aspireo is a
pioneer in pursuing a model of extreme capital efficiency while not
compromising on quality and speed. We are excited to advise and support
Aspireo in its partnering efforts for Somatoprim.'
Carsten Dehning, CEO of Aspireo, added: 'Aspireo is combining the strengths
of a project focused company with the benefits of accessing complete teams
with leading expertise drug development and proven partnering skills. This
strategic advisory agreement comes at a time when we are getting closer to
reaching clinical proof of concept for Somatoprim. Evotec's reach into the
pharmaceutical industry, combined with its own experience in clinical
development and partnering of clinical stage assets, makes it the partner
of choice for Aspireo.'
About Somatoprim
Somatoprim (DG3173) is a novel and proprietary somatostatin analogue (SSA)
that is based on a novel amino acid composition and a unique backbone
cyclisation technology used for stabilisation of the peptide. During
extensive pre-clinical testing, Somatoprim has demonstrated a unique
receptor binding and pharmacological profile which is significantly
differentiated from SSAs that are currently marketed or in clinical
development. In particular, Somatoprim has demonstrated an improved side
effect profile with reduced adverse effects on the gastrointestinal tract
and metabolic control. Furthermore, assessment of growth hormone secretion
in cultured human somatotroph adenoma tissue treated with Somatoprim
indicates that it has the potential to significantly increase the response
rate of acromegalic patients to SSA therapy. Somatoprim is currently in
phase I of clinical development with a phase Ib study currently underway.
ABOUT ASPIREO
Aspireo Pharmaceuticals Ltd is a biopharmaceutical company focused on the
development of a novel somatostatin analogue (SSA) for the treatment of
diseases resulting from hormone-active tumours, such as Acromegaly,
neuroendocrine and gastroenteropancreatic tumours, Cushing's Disease and
Diabetic Retinopathy. Aspireo's sole development compound is Somatoprim
(DG3173), a novel and proprietary somatostatin analogue that is based on a
novel amino acid composition and a unique backbone cyclisation technology
used for stabilisation of the peptide. Aspireo is an Israeli company that
was established in 2010 by TVM Capital as a Project Focused Company (PFC).
For additional information please go to www.aspireopharma.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, Head of Corporate Communications, Phone:
+49.(0)40.56081-255, gabriele.hansen(at)evotec.com
End of Corporate News
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28.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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(at)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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