Evotec Receives a Milestone Payment as Part of its Discovery Alliance with Boehringer Ingelheim
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Evotec AG / Evotec Receives a Milestone Payment as Part of its Discovery Alliance with Boehringer Ingelheim processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Hamburg, Germany - 4 August 2010: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX) today announced that its research alliance with Boehringer Ingelheim has
reached a milestone triggering a payment of EUR 2.5 million to Evotec. The
milestone reached was the selection of a candidate compound for pre-development
studies in an inflammation and immunology programme.
Dr Werner Lanthaler, Chief Executive Officer of Evotec commented: "This is the
tenth milestone achieved since the inception of the collaboration between
Boehringer Ingelheim and Evotec in 2004, thus underlining the great success of
one of the largest and most significant global research alliances between pharma
and biotech. We look forward to further successes from this innovative alliance
based on outstanding science and a very close relationship between Evotec and
Boehringer Ingelheim's scientists."
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.
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 programmes 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#1435619]
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Evotec AG
Schnackenburgallee 114 Hamburg Germany
WKN: 566480;ISIN: DE0005664809;
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Unternehmensinformation / Kurzprofil:
Datum: 04.08.2010 - 07:52 Uhr
Sprache: Deutsch
News-ID 38629
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