Evotec Receives a EUR 2.5 Million Milestone Payment in its Research
Collaboration with Boehringer In
(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 - October 22, 2009: Evotec AG (Frankfurt StockExchange: EVT; NASDAQ: EVTC) today announced that it has achievedanother milestone in its research collaboration with BoehringerIngelheim. The collaboration, which was initiated in August 2004, hasup to now resulted in seven milestone payments. The achievement ofthe current milestone has led to a payment to Evotec of EUR 2.5million. The milestone was achieved for the selection of a candidatecompound for Pre-Development studies in a cardiometabolic program.Dr Werner Lanthaler, Chief Executive Officer of Evotec, commented:"We are extremely pleased that we have achieved another milestone inour alliance with Boehringer Ingelheim. This is the second milestonethat we have achieved in 2009 and further demonstrates the success ofour collaboration. We are looking forward to continuing ourcollaboration into 2010 and beyond and achieving further milestonesas we progress several projects towards the clinic."About the CollaborationIn 2004, Evotec entered into a multi-year drug discoverycollaboration with Boehringer Ingelheim to jointly identify anddevelop preclinical development candidates for the treatment ofvarious diseases. Under the terms of the agreement, BoehringerIngelheim has full ownership and global responsibility for clinicaldevelopment, manufacturing and commercialization of the compoundsidentified. In return, Evotec receives ongoing research payments andpreclinical milestones. Furthermore, the contract providessubstantial long-term upside for Evotec through potential paymentsfor successful milestone achievements during clinical development androyalties 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.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/1349224/325031.pdf --- End of Message ---Evotec AGSchnackenburgallee 114 Hamburg GermanyWKN: 566480; ISIN: DE0005664809 ; Index: Prime All Share, CDAX, HDAX, MIDCAP, TECH All Share;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Börse Berlin, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Niedersächsische Börse zu Hannover, Regulierter Markt in Frankfurter Wertpapierbörse;
Datum: 22.10.2009 - 08:00 Uhr
Sprache: Deutsch
News-ID 7242
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 250 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Evotec Receives a EUR 2.5 Million Milestone Payment in its Research
Collaboration with Boehringer In"
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).
