Hamburg, Germany/ Oxford, UK - Evotec AG (Frankfurt Stock Exchange: EVT; NASDAQ: EVTC), a leading provider in the discovery and development of novel small molecule drugs, today announced that the company has achieved an important milestone with Cardioxyl Pharmaceuticals under a collaboration agreement for the compound, CXL-1020, that has successfully moved into clinical testing. This milestone has triggered a success payment from Cardioxyl Pharmaceuticals to Evotec.
Evotec has been providing medicinal chemistry support to Cardioxyl for over three years. During this time the compound, CXL-1020, was developed through lead optimization and pre-clinical development activities, and has now progressed to Phase I/IIa testing in heart failure patients. Using its expertise in lead optimization and computer aided drug design (CADD), Evotec has optimized a range of molecules with the aim of identifying clinical compounds. The collaboration helped Cardioxyl Pharmaceuticals to move from the early stages of target validation to the initiation of clinical studies within 27 months.
"Our collaboration with Evotec has provided us with critical chemistry support during the development and optimization process of our lead compound, CXL-1020," said Cardioxyl's Chief Executive Officer, Chris Kroeger. "By accessing their proven skills in medicinal chemistry, CXL-1020 has entered the clinic on a timeline well ahead of the typical industry average"
Dr. Mario Polywka, Evotec's Chief Operating Officer commented, "This successful collaboration further validates our ability and expertise in advancing programmes through lead optimization and into the clinic. We are delighted that the significant efforts of Evotec and Cardioxyl have paid off with the progression of this project into the clinic so rapidly."
No financial details are disclosed.
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