- Evotec receives milestone from Ono for the progression of novel protease inhibitors into lead optimisation
Hamburg, Germany / Abingdon, UK - 14 December 2009: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) today announced that it has received a milestone payment from Ono Pharmaceutical Co., Ltd. (Ono) from its research collaboration aimed at identifying novel inhibitors for a protease target. The milestone is received for the progression of the medicinal chemistry collaboration into lead optimisation. The programme success validates again the strength of Evotec's Fragment Based Drug Discovery platform, EVOlutionTM, along with its integrated drug discovery capabilities, including biology, medicinal chemistry, structure based drug design and in vitro pharmacology.
Dr Mario Polywka, Chief Operating Officer of Evotec, commented: "We are delighted to have achieved this important milestone with Ono and once again to demonstrate the value that we bring to our partnership with them. The success of this project is a testament to the strong partnership between our two companies and we look forward to continuing working closely with our colleagues at Ono both on this programme as it progresses to the clinic as quickly as possible and also on our recently initiated collaboration on a second target as proactively as possible."
"We have a high regard for Evotec's drug discovery expertise and the capabilities and technologies used in progressing this collaboration. The achievement of this milestone further validates our strategy to work with the best collaborators in the industry. We look forward to reaching additional milestones together as our programmes progress", said Kazuhito Kawabata, Ph.D., Managing Director, Head of Research Headquarters and Director of Minase Research Institute at Ono.
Evotec and Ono are also collaborating on a second target, an ion channel, for which Ono will access Evotec's ion channel drug discovery platform and expertise. For this second programme Evotec will receive further research funding and milestone payments.
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about our expectations and assumptions concerning regulatory, clinical and business strategies, the progress of our clinical development programmes and timing of the results of our clinical trials, strategic collaborations and management's plans, objectives and strategies. These 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. In particular, the risks and uncertainties include, among other things: risks that the Company may be unable to reduce its cash burn through recent restructuring and cost containment measures and may not recognize the results of such measures within the expected timeframe; risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured; the risk that we will not achieve the anticipated benefits of our collaborations, partnerships and acquisitions in the timeframes expected, or at all; risks relating to our ability to advance the development of product candidates currently in the pipeline or in clinical trials; our inability to further identify, develop and achieve commercial success for new products and technologies; the risk that competing products may be more successful; our inability to interest potential partners in our technologies and products; our inability to achieve commercial success for our products and technologies; our inability to protect our intellectual property and the cost of enforcing or defending our intellectual property rights; our failure to comply with regulations relating to our products and product candidates, including FDA requirements; the risk that the FDA may interpret the results of our studies differently than we have; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully secure regulatory approval of and market our drug candidates; and risks of new, changing and competitive technologies and regulations in the U.S. and internationally.
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