Evotec Wins German Government Research Grant
(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 - 18 November 2009: Evotec (Frankfurt StockEx-change: EVT, TecDAX), a leading provider in the discovery anddevelopment of novel small molecule drugs, today announced that ithas been granted up to ?2.5 m in research funds from the BMBF, withinthe Neu2 consortium, to advance research and development activitieson the target Serine Racemase for potential use in neuroprotection.Evotec will use its drug discovery platform and expertise inprogressing this program towards the clinic, particularly making useof its high quality compound library and proprietary fragment-baseddrug discovery platform.The Neu2 consortium, including Evotec, MerckSerono, the EuropeanScreeningPort GmbH, Bionamics GmbH, and the University Medical CenterHamburg-Eppendorf amongst others were successful against stiffcompetition in this nationwide competition. The goal of thecompetition is to strengthen the German pharmaceutical industry andto bring innovation to market. The winning consortium, within whichEvotec plays an important role, focuses on developing therapeuticsaimed at Multiple Sclerosis and other neurodegenerative diseases.Dr Klaus Maleck, Chief Financial Officer of Evotec comments: "Evotecis pleased to work on identifying new drugs against neurodegenerativediseases within this consortium. At the same time, this grantrepresents a valuable alternative to financing our research withoutjeopardizing our patent position. The work has the potential to makemajor improvements to the quality of life of the patient and can haveconsiderable, non-dilutive impact on our investment case."BMBF comments: "The strategic competition "BioPharma" was initiatedin 2007 because the translation from basic research, which is on avery high level in Germany, to product development and economicrealisation does not work properly. Many expensive scientificfindings will never be used in drug development because scientistspush their work on a level ready for publication whereaspharmaceutical companies only start their developments on the levelof leads or validated targets at least. Therefore BMBF does notsupport single projects in the frame of BioPharma, but consortia thatcover the complete adding value process, from molecule to product.The Neu2 consortium is one of the three winners of this competitionwho convinced the review board with a strategic concept, a plausiblemanagement, an integrated financing concept, and adequate partners."Neurodegenerative diseases are a strongly growing disease class, ofwhich Multiple Sclerosis (MS) and Alzheimer disease are among thebest known examples. MS is one of the most widespread neurologicaldisease in young adults estimated to affect approx. 2.5 millionpeople worldwide while Alz-heimer is predominately a disease of theolder population with a prevalence of 4 % at the age of >65 years.The diseases are characterized by progres-sive central nervous systemimpairments and can be visualised by the oc-currence of widespreadneurodegenerative processes in the brain. The symptoms, onset andprogression of these diseases are heterogeneous and their treatmentis limited to using disease modifying drugs (DMDs) aiming towardsimproving the patient's quality of life.http://hugin.info/131215/R/1355750/329219.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: 18.11.2009 - 07:58 Uhr
Sprache: Deutsch
News-ID 8539
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 247 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Evotec Wins German Government Research Grant"
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).
