* LICENSE GRANTED TO ONE OF THE LARGEST PHARMACEUTICAL COMPANIES IN CHINA
* DEVELOPMENT OF EVOTEC PROPRIETARY COMPOUND EVT 401 INTENDED FOR INFLAMMATORY DISEASES
* UPFRONT, APPROX. EUR 60 MIO MILESTONES AND TIERED DOUBLE-DIGIT ROYALTIES
Hamburg, Germany - 02 May 2012: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) and Conba Pharmaceutical Co., Ltd. announced today the grant of a development and marketing license on EVT 401, a selective, small molecule P2X7 antagonist, for human indications with exception of ophthalmological, chronic obstructive pulmonary disease (COPD) and endometriosis in China.
Evotec receives a small upfront payment, development and commercial milestone payments in excess of EUR 60 m, and tiered double-digit royalties on net sales. The agreement grants Conba Pharmaceutical exclusive rights to develop and commercialise the compound for the Chinese market. Evotec will have the right to reference clinical data produced by Conba Pharmaceutical to support potential further development of EVT 401 in other territories.
P2X7 receptor antagonism may provide a novel approach for the treatment of inflammatory conditions. Evotec has completed the first Phase I, single dose study of EVT 401 in 2010. Conba Pharmaceutical will initiate further clinical trials with EVT 401 in China in inflammatory diseases.
Dr Werner Lanthaler, CEO of Evotec said: "We are very pleased to partner with Conba, a leading Chinese pharmaceutical company, to tap into the Chinese market for inflammatory diseases, such as rheumatoid arthritis. This partnership will also increase the value of the P2X7 programme worldwide, and follows our strategy to align with the best and most dedicated partners in the industry."
Yu Bin, General Manager of Conba Pharmaceutical comments: "We are delighted about the collaboration with Evotec, a global leader in drug discovery and development. This collaboration expands our ongoing strategy to become an innovator in China for pharmaceutical R&D. We are confident about the potential of this compound to become a novel treatment for inflammatory diseases."
ABOUT EVT 401
The P2X7 receptor is an ATP-gated ion channel primarily expressed on cells of the immune system and is thought to play an important role in inflammatory processes through the regulation of a number of proinflammatory cytokines such as IL-1ß. Evotec has identified novel, orally bioavailable, potent and selective P2X7 antagonists from multiple proprietary chemical series. A candidate has been selected and has completed the first Phase I, single dose study. The study was a double-blind, placebo controlled study investigating the safety, tolerability, pharmacokinetics and pharmacodynamics of EVT 401. A total of 96 healthy male volunteers received single oral ascending doses of the compound as a suspension or capsule. The compound was very safe and well tolerated and there were no serious adverse events or withdrawals. In addition, the pharmacodynamic assay used in this study demonstrated the ability of EVT 401 to block ATP-stimulated IL-1ß release in whole blood samples taken from subjects, thereby proving 'on target' activity at well tolerated oral doses. In August 2011 EVT401 was partnered in animal health indication with a major animal health company.
Contact Evotec AG: Dr Werner Lanthaler, Chief Executive Officer, Phone: +49.(0)40.56081-242, firstname.lastname@example.org
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.