Artesian Therapeutics Selects Evotec OAI as Drug Discovery Partner

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Hamburg, Germany | Abingdon, UK | Gaithersburg, USA - Evotec OAI (Deutsche Börse: EVT, TecDAX 30), a partner for integrated high-value-added drug discovery services to the pharmaceutical and biotechnology industries, and Artesian Therapeutics Inc., a biopharmaceutical company focusing on cardiovascular disease, today announced that they have entered into a three-year drug discovery service agreement to optimise small molecule therapeutics for the treatment of congestive heart failure.

"We are developing the first generation of disease modifying therapeutics for the treatment of cardiovascular disease," said Dr. Peter Suzdak, President and Chief Operating Officer of Artesian Therapeutics. "Our integrated technology platform generates a continuous pipeline of proprietary biological targets and to date we have initiated three internal drug discovery programmes. With its broad high-quality biology and chemistry process and its established track record in drug discovery Evotec OAI is the ideal partner to support us in rapidly translating our projects into small molecule candidates for IND filings."

Under the terms of this collaboration, Artesian will utilise Evotec OAI's world-class medicinal chemistry skills for the optimisation of biologically active molecules. Artisian has the option to also utilise Evotec OAI's biology and development chemistry expertise if required.

"Our innovative contract with Oxford Bioscience Partners has further strengthened our presence in the US biotech market," said Jörn Aldag, President and Chief Executive Officer of Evotec OAI. "We are delighted that Artesian Therapeutics and their experienced team with a strong understanding of cardiovascular diseases, decided to capitalise on our established chemistry expertise. Bridging the critical gap between target discovery and pharmacological validation we are looking forward to add significant value to their drug discovery projects."

About Evotec OAI AG
Evotec OAI has established itself as the partner of choice for drug discovery and development services for the world's premier pharmaceutical and biotechnology companies, maintaining its leadership role through innovation and unmatched customer service.
The Company's business strategy is clearly focussed on drug discovery. It has established the most comprehensive technology platform and skills that integrate its world-class biology and chemistry capabilities. Evotec OAI leverages this discovery engine in providing assay development and screening through to compound optimisation and drug manufacturing services to a broad and well-established network of customers. In addition, the Company engages in selected discovery programmes itself to develop drug candidates for early out-licensing. Evotec OAI's instrument and technology business is now successfully handled by its affiliate, Evotec Technologies.
With over 600 people in Hamburg, Germany and Abingdon, UK, Evotec OAI is dedicated to returning value to its shareholders and employees through a sustainable business strategy that balances short-term and long-term revenue opportunities.

About Artesian Therapeutics, Inc.
Artesian Therapeutics, Inc. is a privately-held biopharmaceutical company discovering and developing the first generation of novel disease modifying and disease reversing therapeutics for the treatment of cardiovascular disease (CVD), the by far leading cause of death in the US. Current CVD therapies produce only symptomatic relief and, for the most part, do not affect the underlying disease. Artesian is committed to revolutionising the treatment of CVD utilising a unique integrated technology approach to discover relevant disease pathways and rapidly translate these discoveries into therapeutic strategies to slow the progression of CVD, and promote the repair and recovery of the diseased heart.

February 11, 2012
04:29 AM CET