Evotec Receives Pre-clinical Milestone Payment as Part of its Discovery Alliance with Boehringer Ingelheim

8/18/2011, 7:25 AM (Source: GlobeNewswire)
Evotec AG /
Evotec Receives Pre-clinical Milestone Payment as Part of its Discovery
Alliance with Boehringer Ingelheim
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Hamburg, Germany - 18 August 2011: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX) today announced that its research alliance with Boehringer Ingelheim has
achieved a milestone triggering a payment of EUR 4 million to Evotec. The
milestone was achieved for the identification and selection of a compound to be
advanced into pre-clinical development within an oncology programme and
represents the fourteenth milestone achieved in this multi-year, multi-target
collaboration.
Dr Mario Polywka, Chief Operating Officer of Evotec commented: "This important
milestone achieved as part of our alliance with Boehringer Ingelheim is the
fourth against an oncology target and importantly the first oncology programme
to enter pre-clinical development for this collaboration.  We continue to enjoy
a fruitful scientific relationship with our colleagues at Boehringer in our
efforts to drive new drug candidates to the clinic".

About the Evotec & Boehringer Ingelheim alliance
In 2004, Evotec entered into a multi-year, multi-target drug discovery alliance
with Boehringer Ingelheim to jointly identify and develop preclinical
development candidates for the treatment of various disease areas including
central nervous system, inflammation, cardiometabolic and respiratory diseases.
In 2009, the collaboration was extended for an additional four years and the
scope expanded to include oncology targets. Under the terms of the agreement,
Boehringer Ingelheim has full ownership and global responsibility for clinical
development, manufacturing and commercialisation of the compounds identified. In
return, Evotec receives ongoing research payments and preclinical milestones.
Furthermore, the contract provides long-term upside for Evotec through potential
payments for successful milestone achievements during clinical development and
undisclosed royalties when new drugs reach the market.
Contact Evotec AG: Dr Werner Lanthaler, Chief Executive Officer, Phone:
+49.(0)40.56081-242, werner.lanthaler@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 report. 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.




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Evotec AG
Schnackenburgallee 114 Hamburg Germany

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Pdf of Press Release:
http://hugin.info/131215/R/1539210/470316.pdf




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