Hamburg, Germany - 28 October 2013: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) today announced that it has achieved first milestones in its multi-year, multi-target integrated drug discovery collaboration with UCB in the field of immunology.
The milestones were achieved upon the progression of certain projects into hit-to-lead and into lead optimisation.
Evotec and UCB entered into this collaboration in October 2011. Under the terms of the collaboration, Evotec receives research payments, milestones based on achieving various pre-clinical, clinical and sales goals and royalties on final product sales.
Dr Mario Polywka, Chief Operating Officer of Evotec, stated: 'We are delighted that the project teams at UCB and Evotec have met these important milestones in the collaboration. The progress in this collaboration is a testament to the way scientists from both companies have worked together in a true partnership.'
Dr Neil Weir, Senior Vice President of Discovery at UCB, commented that 'The collaboration with Evotec complements our internal research efforts and enhances our scientific network. Hitting these milestones is great news and as we continue to work together, we hope that the results will enhance the pace of the discovery process, the quality of compounds selected for further development and ultimately improve patient outcomes.'
No financial details were disclosed.