Evotec Brings Project in Neuropathic Pain into Clinical Development in its Alliance with Boehringer Ingelheim
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¾ Evotec receives EUR 2.0 million milestone payment from Boehringer Ingelheim
Hamburg, Germany - 19 May 2010: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX) today announced that a compound in its strategic alliance with
Boehringer Ingelheim has advanced into clinical trials. With the initiation of
the Phase I clinical studies for this compound, Evotec will receive a milestone
payment of EUR 2.0 million. The compound, which was discovered and optimised
within the alliance, is being developed as a novel treatment for neuropathic
pain, a disease caused by damage or dysfunction of the nervous system and
affecting up to 7-8% of the world's population.
The alliance has involved working on multiple high priority targets across key
therapeutic areas and has recently been expanded for four further years to
include oncology. So far it has resulted in eight milestone payments from
multiple programmes.
Dr Werner Lanthaler, Chief Executive Officer of Evotec, added: "This clearly
validates our strategy of creating value for our partners and further emphasises
our expertise in providing most efficient integrated drug discovery solutions
for our collaborators. We are looking forward to advancing other exciting
projects towards the clinic as part of this innovative alliance."
About the Collaboration
In 2004, Evotec entered into a multi-year, multi-target drug discovery
collaboration 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 4 years term 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.
About Neuropathic pain
Neuropathic pain is a type of pain which is caused by damage to or dysfunction
of the nervous system. There is often no 'injury' or tissue damage that triggers
the pain. However, the function of the nerve is affected in a way that it sends
pain messages to the brain. Neuropathic pain is often described as burning,
stabbing, shooting, aching, or like an 'electric-shock'. According to the Pain
journal (Bouhassira et al, 2008), as much as 7% to 8% of the world's population
is affected. Furthermore, it was noted in the same journal (Dworkin et al,
2007) that neuropathic pain can be very difficult to treat with only some
40-60% of patients achieving partial relief.
Contact: Dr Werner Lanthaler, Chief Executive Officer,
Evotec AG, Tel.: +49.(0)40.56081-242, werner.lanthaler(at)evotec.com
Forward-Looking Statements
Information set forth in this press release contains forward-looking statements,
which involve a number of risks and uncertainties. Such forward-looking
statements include, but are not limited to, statements about our 2010 financial
outlook and our expected financial results in future quarters, our ability to
deliver on our liquidity guidance, our belief that we are on course to
profitability in 2012, our expectations and assumptions concerning regulatory,
clinical and business strategies, the progress of our clinical development
programs and timing of the commencement and results of our clinical trials,
strategic collaborations and management's plans, objectives and strategies.
These 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. In particular, the risks and uncertainties
include, among other things; risks that product candidates may fail in the
clinic or may not be successfully marketed or manufactured; the risk that we
will not achieve the anticipated benefits of our collaborations, partnerships
and acquisitions in the timeframes expected, or at all; risks relating to our
ability to advance the development of product candidates currently in the
pipeline or in clinical trials; our inability to further identify, develop and
achieve commercial success for new products and technologies; the risk that
competing products may be more successful; our inability to interest potential
partners in our technologies and products; our inability to achieve commercial
success for our products and technologies; our inability to protect our
intellectual property and the cost of enforcing or defending our intellectual
property rights; our failure to comply with regulations relating to our products
and product candidates, including FDA requirements; the risk that the FDA may
interpret the results of our studies differently than we have; the risk that
clinical trials may not result in marketable products; the risk that we may be
unable to successfully secure regulatory approval of and market our drug
candidates; and risks of new, changing and competitive technologies and
regulations in the U.S. and internationally.
The list of risks above is not exhaustive. Our most recent Annual Report on Form
20-F, filed with the Securities and Exchange Commission, and other documents
filed with, or furnished to the Securities and Exchange Commission, contain
additional factors that could impact our businesses and financial performance.
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.
[HUG#1416893]
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Evotec AG
Schnackenburgallee 114 Hamburg Germany
WKN: 566480;ISIN: DE0005664809;
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Freiverkehr in Niedersächsische Börse zu Hannover,
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Pdf of Press release: http://hugin.info/131215/R/1416893/367453.pdf
Unternehmensinformation / Kurzprofil:
Datum: 19.05.2010 - 07:26 Uhr
Sprache: Deutsch
News-ID 21105
Anzahl Zeichen: 0
contact information:
Town:
Hamburg
Kategorie:
Business News
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