Ad hoc:Evotec AG:Ad hoc:Evotec announces metabolic disease alliance with MedImmune
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Evotec AG /
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Ad hoc:Evotec announces metabolic disease alliance with MedImmune
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Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE
000 566480 9, WKN 566480) today announced that via its subsidiary Develogen AG
it has entered into a license and collaboration agreement with MedImmune (the
global biologics unit of AstraZeneca), in the diabetes therapeutic area, with a
particular focus on the regeneration of insulin producing beta cells. The
license gives MedImmune exclusive access to a portfolio of research programs and
represents the first deal executed by Evotec on beta cell regeneration assets
and capabilities.
The agreement triggers an upfront payment of ? 5 million. Further on,
additional deferred payments including potential milestone payments of up to ?
254 million as well as royalties are agreed. The milestone payments will be due
upon achievement of certain clinical as well as regulatory and commercial
events. Further milestone payments may be achieved with the approval of
additional indications and programs. Evotec will also receive research payments
to support further in vivo and in vitro pharmacology efforts conducted in
collaboration with MedImmune.
Since September 2010 DeveloGen AG is part of the Evotec group of companies with
99.4% of the outstanding capital acquired by Evotec AG. Under the terms of the
acquisition, Evotec AG owes, amongst others, a portion of any upfront, milestone
and royalty payments of certain agreements (including the agreement relating to
beta cell regeneration assets) entered into by DeveloGen AG as deferred purchase
consideration. This agreement also triggers a further share consideration of
1,398,561 shares held in escrow.
Contact: Dr Werner Lanthaler, Chief Executive Officer, Evotec AG,
Schnackenburgallee 114, 22525 Hamburg, Germany, Phone: +49.(0)40.560 81-242,
werner.lanthaler(at)evotec.com
--- End of Message ---
Evotec AG
Schnackenburgallee 114 Hamburg Germany
WKN: 566480;ISIN: DE0005664809;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Freiverkehr in Niedersächsische Börse zu Hannover,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;
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Source: Evotec AG via Thomson Reuters ONE
[HUG#1472726]
Unternehmensinformation / Kurzprofil:
Datum: 15.12.2010 - 12:10 Uhr
Sprache: Deutsch
News-ID 49739
Anzahl Zeichen: 3323
contact information:
Town:
Hamburg
Kategorie:
Business News
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