HAMBURG, Germany--(BUSINESS WIRE)--Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) today announced the formation of a spin-off company in the field of nanoparticle-based therapeutics to treat immunological disorders.
Epidarex Capital, EMBL Ventures and Gimv participated together with Evotec in the EUR 14 m ($ 15.75 m) Series A round of Topas Therapeutics GmbH. Evotec will remain the largest shareholder after the financing round.
The new company, Topas Therapeutics GmbH ("Topas"), aims to build a unique pipeline of clinical-stage development projects to treat autoimmune diseases. The proceeds of the Series A funding enable Topas to expand and accelerate its proprietary liver-based tolerance induction platform and to progress with its own product development efforts in multiple autoimmune and inflammatory indications including multiple sclerosis into clinical proof-of-concept ("POC") stage.
Dr Timm Jessen, Chief Executive Officer of Topas, stated: "We are delighted to engage with such a strong and experienced consortium of investors who share with us the excellence and commercial potential of this unique mode to induce antigen-specific tolerance in autoimmune diseases and beyond."
Dr Werner Lanthaler, Chief Executive Officer of Evotec and interim Chairman of the Supervisory Board of Topas, commented: "We are very excited by Topas' unique product-platform technology, which has significant breakthrough potential. The company formation of Topas is the first example of an acceleration of our business model representing an optimal risk-reward profile up to clinical proof-of-concept stage for our shareholders in selected fields of high strategic medical relevance."
Peter Finan PhD, Partner at Epidarex Capital, commented: "Topas Therapeutics' unique approach to tolerance has the potential to lead to transformative medicines in diseases of high unmet medical need. We are delighted to have led the financing with such strong co-investors and we look forward to working closely with the Topas team to realise this potential."
ABOUT TOPAS THERAPEUTICS GMBH
Topas emerges from the neuro
portfolio of Bionamics GmbH which was acquired by Evotec in March 2014
and is an early stage therapeutics company using ground breaking
nanoparticle technology to target autoimmune and inflammatory diseases
via the induction of antigen specific immune tolerance in the liver. The
platform has been exclusively licensed from the University Medical
Center Hamburg-Eppendorf ("UKE") where it was invented by Johannes
Herkel, Jörg Heeren and other colleagues in Hamburg. It is anticipated
that Topas will advance their initial programme targeting multiple
sclerosis into clinical development in 2017.
ABOUT EPIDAREX CAPITAL
Epidarex Capital invests in early-stage,
high growth life science and health technology companies in
under-ventured markets within the UK and US. Epidarex was created to
meet the need for more sector-specific risk capital for young companies,
including spin-outs from leading research universities. The fund's
international management team has a track record of successfully
partnering with top scientists and entrepreneurs to develop highly
innovative products for the global healthcare market. For further
information please visit www.epidarex.com
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development
partnership company focused on rapidly progressing innovative product
approaches with leading pharmaceutical and biotechnology companies,
academics, patient advocacy groups and venture capitalists. We operate
worldwide providing the highest quality stand-alone and integrated drug
discovery solutions, covering all activities from target-to-clinic. The
Company has established a unique position by assembling top-class
scientific experts and integrating state-of-the-art technologies as well
as substantial experience and expertise in key therapeutic areas
including neuroscience, pain, metabolic diseases as well as oncology,
inflammation and infectious diseases. Evotec has long-term discovery
alliances with partners including Bayer, Boehringer Ingelheim, CHDI,
Genentech, Janssen Pharmaceuticals, MedImmune/AstraZeneca, Roche and
UCB. In addition, the Company has existing development partnerships and
product candidates both in clinical and pre-clinical development. These
include partnerships with Boehringer Ingelheim and MedImmune in the
field of diabetes, with Janssen Pharmaceuticals in the field of
depression and with Roche in the field of Alzheimer's disease. For
additional information please go to www.evotec.com.
FORWARD LOOKING STATEMENTS - Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking 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. 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.
| Language: | English | |
| Company: | Evotec AG | |
| Manfred Eigen Campus / Essener Bogen 7 | ||
| 22419 Hamburg | ||
| Germany | ||
| Phone: | +49 (0)40 560 81-0 | |
| Fax: | +49 (0)40 560 81-222 | |
| E-mail: | ||
| Internet: | ||
| ISIN: | DE0005664809 | |
| WKN: | 566480 | |
| Indices: | TecDAX | |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated | |
| Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, | ||
| Munich, Stuttgart; Terminbörse EUREX | ||