Evotec achieves milestone with Cardioxyl Pharmaceuticals - as
compound enters the clinic
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Hamburg, Germany/ Oxford, UK - Evotec AG (Frankfurt Stock Exchange:EVT; NASDAQ: EVTC), a leading provider in the discovery anddevelopment of novel small molecule drugs, today announced that thecompany has achieved an important milestone with CardioxylPharmaceuticals under a collaboration agreement for the compound,CXL-1020, that has successfully moved into clinical testing. Thismilestone has triggered a success payment from CardioxylPharmaceuticals to Evotec.Evotec has been providing medicinal chemistry support to Cardioxylfor over three years. During this time the compound, CXL-1020, wasdeveloped through lead optimization and pre-clinical developmentactivities, and has now progressed to Phase I/IIa testing in heartfailure patients. Using its expertise in lead optimization andcomputer aided drug design (CADD), Evotec has optimized a range ofmolecules with the aim of identifying clinical compounds. Thecollaboration helped Cardioxyl Pharmaceuticals to move from the earlystages of target validation to the initiation of clinical studieswithin 27 months."Our collaboration with Evotec has provided us with criticalchemistry support during the development and optimization process ofour lead compound, CXL-1020," said Cardioxyl's Chief ExecutiveOfficer, Chris Kroeger. "By accessing their proven skills inmedicinal chemistry, CXL-1020 has entered the clinic on a timelinewell ahead of the typical industry average"Dr. Mario Polywka, Evotec's Chief Operating Officer commented, "Thissuccessful collaboration further validates our ability and expertisein advancing programmes through lead optimization and into theclinic. We are delighted that the significant efforts of Evotec andCardioxyl have paid off with the progression of this project into theclinic so rapidly."No financial details are disclosed.For further information, please contact:Dr Mark AshtonEVP, Business DevelopmentEvotec AGT : +44 (0) 1235 441236E : mark.ashton(at)evotec.comHilary LathamDe Facto CommunicationsT : +44 (0) 20 7861 3043E : h.latham(at)defacto.comForward-looking statementsInformation set forth in this press release contains forward-lookingstatements, which involve a number of risks and uncertainties. Suchforward-looking statements include, but are not limited to,statements about our expectations and assumptions concerningregulatory, clinical and business strategies, the progress of ourclinical development programs and timing of the results of ourclinical trials, strategic collaborations and management's plans,objectives and strategies. These statements are neither promises norguarantees, but are subject to a variety of risks and uncertainties,many of which are beyond our control, and which could cause actualresults to differ materially from those contemplated in theseforward-looking statements. In particular, the risks anduncertainties include, among other things: risks that the Company maybe unable to reduce its cash burn through recent restructuring andcost containment measures and may not recognize the results of suchmeasures within the expected timeframe; risks that product candidatesmay fail in the clinic or may not be successfully marketed ormanufactured; the risk that we will not achieve the anticipatedbenefits of our collaborations, partnerships and acquisitions in thetimeframes expected, or at all; risks relating to our ability toadvance the development of product candidates currently in thepipeline or in clinical trials; our inability to further identify,develop and achieve commercial success for new products andtechnologies; the risk that competing products may be moresuccessful; our inability to interest potential partners in ourtechnologies and products; our inability to achieve commercialsuccess for our products and technologies; our inability to protectour intellectual property and the cost of enforcing or defending ourintellectual property rights; our failure to comply with regulationsrelating to our products and product candidates, including FDArequirements; the risk that the FDA may interpret the results of ourstudies differently than we have; the risk that clinical trials maynot result in marketable products; the risk that we may be unable tosuccessfully secure regulatory approval of and market our drugcandidates; and risks of new, changing and competitive technologiesand regulations in the U.S. and internationally.The list of risks above is not exhaustive. Our most recent AnnualReport on Form 20-F, filed with the Securities and ExchangeCommission, and other documents filed with, or furnished to theSecurities and Exchange Commission, contain additional factors thatcould impact our businesses and financial performance. We expresslydisclaim any obligation or undertaking to release publicly anyupdates or revisions to any such statements to reflect any change inour expectations or any change in events, conditions or circumstanceson which any such statement is based.http://hugin.info/131215/R/1345131/322794.pdf --- End of Message ---Evotec AGSchnackenburgallee 114 Hamburg GermanyWKN: 566480; ISIN: DE0005664809 ; Index: Prime All Share, CDAX, TECH All Share, HDAX, MIDCAP;Listed: Prime Standard in Frankfurter Wertpapierbörse, Regulierter Markt in Frankfurter Wertpapierbörse, Freiverkehr in Börse Stuttgart, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Berlin, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Niedersächsische Börse zu Hannover, Freiverkehr in Börse Düsseldorf;
Datum: 01.10.2009 - 08:46 Uhr
Sprache: Deutsch
News-ID 6470
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 409 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Evotec achieves milestone with Cardioxyl Pharmaceuticals - as
compound enters the clinic"
steht unter der journalistisch-redaktionellen Verantwortung von
Evotec AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
