- Achievement marks 24th milestone under alliance to date
Hamburg, Germany, 01 December 2017: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) announced today that it has achieved a clinical milestone under its drug discovery alliance with Boehringer Ingelheim triggering revenues of EUR 2.00 m to Evotec. The milestone was for the transition of a respiratory candidate compound into a Phase I clinical trial. Evotec entered into this strategic alliance with Boehringer Ingelheim in 2004 and the collaborative research conducted through this alliance concluded in 2013.
Dr Mario Polywka, Chief Operating Officer of Evotec, commented: "We are proud to have achieved this important milestone as it represents the first compound from this respiratory programme to enter the clinic. The research part of the collaboration ended in 2013 and we are delighted that our colleagues in Boehringer Ingelheim continue to drive value from the projects. This is the twenty-fourth milestone achieved since the contract was signed."
About the Evotec/Boehringer Ingelheim alliance
In 2004, Evotec entered into a multi-year, multi-target drug discovery alliance with Boehringer Ingelheim to jointly identify and develop pre-clinical development candidates for the treatment of various disease areas including CNS, inflammation, cardiometabolic, respiratory diseases and oncology. Under the terms of the agreement, Boehringer Ingelheim has full ownership and global responsibility for clinical development, manufacturing and commercialisation of the compounds identified. In return, Evotec received research payments and pre-clinical milestones. Even though the contract ended in 2013, it provides substantial long-term upside for Evotec through potential payments for successful milestone achievements during clinical development and royalties when new drugs reach the market.
FORWARD LOOKING STATEMENTS
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking 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. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.