HAMBURG, Germany--(BUSINESS WIRE)--Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) announced today that it has reached a milestone from Bayer for the progression of a programme from the alliance portfolio into Phase I clinical development for the treatment of endometriosis, triggering a milestone payment to Evotec.
This milestone was achieved under the strategic alliance between Evotec and Bayer entered in October 2012. The goal of the collaboration is to develop three clinical candidates within the five-year alliance. Both parties contribute innovative drug targets and high-quality technology infrastructures and share the responsibility for early research and pre-clinical characterisation of potential clinical candidates in the disease area of endometriosis.
Bayer will be responsible for subsequent clinical development and commercialisation while Evotec is eligible for clinical and sales milestones as well as royalties on net sales depending on the successful development and approval of a potential drug candidate.
Dr Mario Polywka, Chief Operating Officer of Evotec, commented: "We are very pleased to report this exciting progress in our endometriosis collaboration with Bayer. The progression of this programme into clinical development is a significant achievement for the alliance. We look forward to continued success within the alliance as we strive to deliver new therapeutics for the treatment of this disease with significant unmet medical need."
Financial details were not disclosed.
ABOUT ENDOMETRIOSIS
Endometriosis affects an estimated 176 million women worldwide or 10% of women of reproductive age. It is caused by the abnormal growth of tissue similar to that which lines the uterus (endometrial tissue) in locations outside of the uterine cavity, where it causes ectopic lesion growth and debilitating pain. Endometrial growth is commonly found on the ovaries and pelvic peritoneum, potentially involving other organs of the pelvic cavity as e.g. bladder, bowel, and the rectovaginal space. There is no known cure for endometriosis and most available drug treatments have certain limitations. Endometriosis is a highly complex and heterogeneous disease and there is still a high unmet medical need for innovative therapies which address the individual needs of affected women. The disease can greatly impact a woman's social, professional and personal life, and women with endometriosis often experience a higher incidence of depression and emotional distress due to the uncertainty of diagnosis, unpredictability of symptoms and living a normal life. Find more information at http://endometriosisfoundation.org or http://endometriosis-league.eu/en.
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 to meet the industry's need for innovation and efficiency in drug discovery (EVT Execute). 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, diabetes and complications of diabetes, pain and inflammation, oncology and infectious diseases. On this basis, Evotec has built a broad and deep pipeline of more than 70 partnered product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term discovery alliances with partners including Bayer, CHDI, Sanofi or UCB and development partnerships with e.g. Janssen Pharmaceuticals in the field of Alzheimer's disease, with Sanofi in the field of diabetes and with Pfizer in the field of tissue fibrosis. 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: | info@evotec.com | |
| Internet: | www.evotec.com | |
| ISIN: | DE0005664809 | |
| WKN: | 566480 | |
| Indices: | TecDAX | |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated | |
| Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, | ||
| Munich, Stuttgart, Tradegate Exchange |
