- PETRA PHARMA CORPORATION TO HARNESS EVOTEC’S INDIGO PLATFORM TO ACCELERATE ITS LEAD PROGRAMME (PETRA-01 FOR ONCOLOGY INDICATIONS) THROUGH IND FILING
- EVOTEC ELIGIBLE TO RECEIVE SUCCESS-BASED MILESTONES AND RESEARCH FUNDING
- EVOTEC’S INDIGO, A KEY VALUE-DRIVING COMPONENT OF ITS EVT EXECUTE BUSINESS SEGMENT, ACCELERATES EARLY DRUG CANDIDATES INTO THE CLINIC BY REDUCING TIME FROM NOMINATION TO REGULATORY SUBMISSION
Hamburg, Germany, 11 April 2018: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) announced today a strategic collaboration with Petra Pharma Corporation (“Petra”). Through the collaboration, Petra will access Evotec’s INDiGO platform to accelerate the development of its lead programme Petra-01, which is being developed for a range of oncological indications, through to the submission of an Investigational New Drug Application (“IND”) with the U.S. Food and Drug Administration by the close of 2018. Evotec will leverage its highly skilled experts across all disciplines, primarily oncology, to implement a tailored drug development strategy for Petra-01 and will receive undisclosed research funding and success-based milestones.
“Evotec has a strong track record of successful integrated development and INDiGO packages on behalf of their clients,” said Brian O'Callaghan, President and Chief Executive Officer at Petra Pharma. “Our team at Petra is excited to progress our lead programme and look forward to achieving our goal to file an IND by the end of 2018. We are confident Evotec’s INDiGO programme and the team they assembled are the best partner to ensure the rapid and high-quality progression of Petra-01.“
Dr Mario Polywka, Chief Operating Officer of Evotec, added: “Our INDiGO platform has proven to reduce the development time and cost of taking a pre-clinical candidate through to producing a quality data package for CTA and IND filings. Petra is a leader in the emerging NY life science ecosystem and we look forward to working with them long-term. We are excited for the opportunity to work with Petra on advancing its promising oncology candidate, Petra-01.”