DGAP-News: Evotec enters biology collaboration with Probiodrug
(firmenpresse) - DGAP-News: Evotec AG / Key word(s): Alliance
Evotec enters biology collaboration with Probiodrug
28.11.2012 / 07:29
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Hamburg, Germany - 28 November 2012: Evotec AG (Frankfurt Stock Exchange:
EVT, TecDAX) announced today that it has entered into a collaboration with
Probiodrug AG, a privately owned biopharmaceutical company focused on the
development of innovative drugs for the treatment of major age related
diseases.
Under the terms of the agreement, Evotec will setup and validate assays to
support the pre-clinical and clinical development of glutaminyl cyclase
(QC) inhibitors for the treatment of Alzheimer's disease. Glutaminyl
cyclase is a novel proprietary enzyme target discovered and validated by
Probiodrug which plays a crucial role in the pathogenesis of Alzheimer's
disease (AD) as well as potentially other diseases.
Dr Mario Polywka, Chief Operating Officer of Evotec commented: 'We are
pleased to enter this collaboration with Probiodrug to use our first class
assay development capabilities to support the pre-clinical and clinical
development of QC inhibitors in Alzheimer's disease and other indications.
This is a good example of how Evotec can support Biotech companies with
their specific drug discovery needs.'
Hendrik Liebers, Chief Financial Officer of Probiodrug, added: 'The
collaboration will allow us to focus on the further pre-clinical and
clinical development of our programmes in neurodegeneration/AD. Evotec,
with its proven track record, is ideally suited to accompany this process
by running existing and developing new biological assays.'
ABOUT PROBIODRUG AG
Probiodrug is a biopharmaceutical company dedicated to the discovery and
development of small molecule drugs against novel molecular targets for the
treatment of neuronal and inflammatory diseases. The Company has a dominant
position in the area of glutaminyl cyclase inhibition. Glutaminyl cyclase,
a novel enzyme target discovered and patented by Probiodrug, has a crucial
role in the pathogenesis of Alzheimer's disease (AD) as well as various
peripheral inflammatory diseases.
Probiodrug is backed by institutions such as BB Biotech, Edmond de
Rothschild Investment Partners, Goodvent/IBG, HBM, TVM, Life Sciences
Partners, Biogen Idec Ventures, CFH Group, funds managed by Wellington
Management, and private investors.
Probiodrug's core capabilities are based on its long-standing expertise in
the elucidation of the structure and function of enzymes which play a
central role in the maturation of hormones. The Company has pioneered the
field of dipeptidyl peptidase 4 (DP4)-inhibition for the treatment of type
2 diabetes. Compounds and technology patents of its DP4 program in diabetes
were licensed to various pharmaceutical companies. In 2004, all metabolic
assets were sold to OSI Pharmaceuticals, Inc. The first drug based on
Probiodrug's technologies reached the market in late 2006. Proceeds of the
various transactions have been reinvested by the Company to fund the novel
approach for the treatment of AD and inflammatory diseases.
The Company was founded in 1997 by Prof Dr Hans-Ulrich Demuth and Dr Konrad
Glund. Probiodrug has raised EUR71 m for its QC program. For more
information please visit www.probiodrug.de.
FORWARD LOOKING STATEMENTS - Information set forth in this press release
contains forward-looking statements, which involve a number of risksand
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:
Dr Mario Polywka, Chief Operating Officer, Phone: +44.(0)1235.441676,
mario.polywka(at)evotec.com
End of Corporate News
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28.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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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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194911 28.11.2012
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Datum: 28.11.2012 - 07:29 Uhr
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