Hamburg, Germany | Abingdon, UK - Evotec OAI AG, Hamburg, Germany (Neuer Markt: EVT), a supplier of integrated high value added drug discovery services, announced today that it will continue to provide drug discovery chemistry services to its long-term partner Vertex Pharmaceuticals. The current contract has been extended for the third time until the end of 2002. Financial details were not disclosed.
Under the terms of the agreement Evotec OAI continues to provide focussed libraries for pharmaceutical screening to Vertex. Both companies combine their chemistry techniques to aid the identification of proprietary small molecule therapeutics against novel drug targets.
"Vertex is a valued customer for Evotec OAI. Since 1998 they have utilised a broad range of chemistries we have to offer. We are looking forward to continuing our collaboration," said Dr Mario Polywka, Chief Operating Officer of Evotec OAI.
"We are pleased with the expertise of Evotec OAI scientists and the quality of services provided which provide a valuable complement to our internal resources," said Dr. Scott Harbeson, Principal Investigator, Chemistry at Vertex.
About Evotec OAI AG
Evotec OAI offers a comprehensive range of high-value added services and products required to increase the efficiency and at the same time reduce the risk in the identification of new drugs. By integrating proprietary state-of-the-art technologies and processes in biology, chemistry and screening, the Company has established a unique position for all the critical elements in the drug discovery and development process - from target to clinical development. Due to its extensive know how and experience Evotec OAI is the ideal partner for pharma and biotech companies world-wide. To date, Evotec OAI has completed over 1,200 projects with 150 companies, including all of the top 20 global pharmaceutical companies and major biotechs.
The Company employs nearly 600 people, primarily at its two main sites at Hamburg in Germany and Abingdon in the UK. Subsidiaries are located in Europe and North America. In 2001 Evotec OAI achieved revenues of EUR 63.2 million. Evotec OAI shares are listed on the Neuer Markt of the Frankfurt Stock Exchange since November 1999 (NM: EVT).
Evotec OAI Signs Contract Extension with Vertex Pharmaceuticals