- LAB282 is a joint effort by Oxford University, Oxford University Innovation Ltd, Oxford Sciences Innovation and Evotec to select and accelerate early-stage projects out of Oxford University with ₤ 13 m (over EUR 14 m) translational discovery fund
Hamburg, Germany, 10 November 2016:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) today announced a novel strategic partnership with the University of Oxford, Oxford University Innovation Ltd, OUI (the university's research commercialisation company) and Oxford Sciences Innovation, OSI (the world's largest IP investment company dedicated to a single university) aimed at accelerating the translation of basic biomedical research from Oxford into new therapeutics. Projects will be sourced exclusively from Oxford University researchers via OUI across any therapeutic area and for any therapeutic modality and will be aided by a drug discovery expert in residence seconded by Evotec to the LAB282 initiative and embedded in the university.
"LAB282" will be supported by a fund of ₤ 13 m (over EUR 14 m) led by OSI for an initial period of three years. The goal is to accelerate the achievement of pre-clinical proof of concept for new drugs and to generate new spin-out companies. The development of new treatments and cures for serious and debilitating diseases will help patients live longer and better lives as well as reduce the burden on global healthcare systems.
Evotec will exclusively contribute its drug discovery expertise and platforms to select projects and develop them further. Evotec will be entitled to equity in new LAB282 spin-out companies together with Oxford University and its academic researchers and together with OSI will have the right to co-invest in seed financing rounds.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "LAB282 is a highly innovative partnership that elegantly combines core strengths of academia, biotech, venture capital and strong links to Pharma under one "roof". Casting a wide net in terms of indications and technologies, it is designed to accelerate in particular first-in-class and potentially disruptive early-stage projects to value inflection points that will facilitate the formation of companies. We are very proud to be part of this exciting endeavour with such highly distinguished partners and are convinced that this model will become a blueprint of effectively and efficiently translating academic science into highly differentiated product opportunities."
Dr Adam Stoten, Head of Technology Transfer, Life Sciences at OUI commented: "This pioneering approach addresses a major unmet need by engaging LAB282's partners, together offering world-class medical research, commercial drug discovery expertise and facilities, and significant investment resources. Today's announcement provides another great example of how UK universities are at the forefront of collaborative public-private drug discovery partnerships with the goal of patient benefit."
Professor Matthew Wood, Associate Head of Medical Sciences Division (Research) at Oxford University, said: "LAB282 represents an important innovation for Oxford in maximising the impact of public funding in medical sciences. As the number one ranked medical school in the world it is critically important that the quality of our research is matched by high-quality translational support which increases the likelihood of future societal benefits."
Andrew McLean, Principal Investor, OSI added: "There are so many incredible and potentially life-changing ideas being fostered across Oxford University and we are delighted to be part of this unique partnership to nourish these ideas into leading companies that will have a positive impact on patients."
LAB282, initiated in November 2016, is a new £ 13 m partnership between the University of Oxford, Oxford University Innovation Ltd, Oxford Sciences Innovation plc and Evotec AG created to identify and develop new approaches to treating serious diseases which originate from the University of Oxford. The name is derived from the pantone colour code of "Oxford Blue". For more information, please visit www.lab282.org.
ABOUT OXFORD UNIVERSITY'S MEDICAL SCIENCES DIVISION The Division is one of the largest biomedical research centres in Europe, with over 2,500 people involved in research and more than 2,800 students. The University is rated the best in the world for medicine, and it is home to the UK's top-ranked medical school.
From the genetic and molecular basis of disease to the latest advances in neuroscience, Oxford is at the forefront of medical research. It has one of the largest clinical trial portfolios in the UK and great expertise in taking discoveries from the lab into the clinic. Partnerships with the local NHS Trusts enable patients to benefit from close links between medical research and healthcare delivery. A great strength of Oxford medicine is its long-standing network of clinical research units in Asia and Africa, enabling world-leading research on the most pressing global health challenges such as malaria, TB, HIV/AIDS and flu. Oxford is also renowned for its large-scale studies which examine the role of factors such as smoking, alcohol and diet on cancer, heart disease and other conditions.
ABOUT OXFORD SCIENCES INNOVATION
Oxford Sciences Innovation plc is the world's largest IP investment company dedicated to a single university. Founded in May 2015, we help turn Oxford University's world-leading scientific discovery into innovative science and technology companies that can have a positive impact on society. We provide capital and expertise to businesses driven by intellectual property developed in Oxford's Mathematical, Physical, Life Sciences Division and Medical Sciences Divisions. We are guided and powered by some of the world's leading organisations, including Invesco, Woodford Investment Management, the Wellcome Trust and Lansdowne Partners.
ABOUT OXFORD UNIVERSITY INNOVATION
Oxford University Innovation supports innovation activities across all University Divisions, managing technology transfer and consulting activities, and providing an innovation management service to clients around the world.
We provide access to technology from Oxford researchers through intellectual property licensing, spinout company formation and material sales, and to academic expertise through our Consulting Services team. The New Venture Support & Funding team supports investors or donors with an interest in early-stage ventures, and manages the Oxford Angels Network. Our Startup Incubator supports members and ex-members of the University who wish to start or grow entrepreneur-driven ventures that are not University spinouts.
Oxford University Innovation is the highest university patent filer in the UK and is ranked 1st in the UK for university spin-outs, having created over 140 new companies in 25 years. In the last reported financial year we completed 529 licenses and consulting agreements. Isis Enterprise, our innovation management consultancy, works with university, government and industrial clients from offices around the world. For updates on innovations from Oxford, follow Oxford University Innovation on LinkedIn and Twitter or subscribe at http://innovation.ox.ac.uk/about/contact-us.
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.
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