"Dynogen's near term strategic approach is to acquire neurological compounds which have been developed for pain, depression, anxiety or other indications and develop them for GU and GI disorders. Longer term, we plan to identify novel targets and develop new chemical entities to address unmet needs in these areas," commented Lee R. Brettman, MD, President and Chief Executive Officer of Dynogen Pharmaceuticals. "Evotec OAI offers us a proven capacity to provide strategic input and a full range of discovery and development services as we build our pipeline."
Specifically, Evotec OAI will apply its expertise in a range of services that include: assay development, development of focused libraries, biological screening, lead optimisation, medicinal chemistry, scale-up and manufacture of clinical compounds.
"This agreement is another step in our goal of establishing innovative relationships with promising biotechnology companies that utilise our unique skills and services," noted Joern Aldag, President and Chief Executive Officer of Evotec OAI. "By leveraging these technologies and services, Dynogen will be able to more efficiently move product candidates from discovery through clinical development."
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 pharmaceutical and biotechnology companies worldwide. 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 more than 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 Prime Standard of the Frankfurt Stock Exchange (EVT).
About Dynogen Pharmaceuticals, Inc
Dynogen Pharmaceuticals, Inc is discovering and developing novel neuroscience-based therapies for genitourinary and gastrointestinal disorders. The company has world-class expertise in predictive in-vitro and in-vivo models, as well as a cutting edge understanding of the neurobiology that underlies these conditions. Dynogen is applying this expertise to build a pipeline with an initial focus on overactive bladder, sexual dysfunction and irritable bowl syndrome. For additional information, please visit www.dynogenpharma.com.
Contact Dynogen Pharmaceuticals, Inc:
Robert C. LoretteChief
Business Officer and Senior Vice President
Phone: +1.617.357-8000 ext. 105
Karla MacDonald or
Feinstein Kean Healthcare