- LICENSE GRANTED TO ONE OF THE LARGEST PHARMACEUTICAL COMPANIES IN CHINA
- DEVELOPMENT OF EVOTEC PROPRIETARY COMPOUND EVT 401 INTENDED FOR INFLAMMATORY DISEASES
- UPFRONT, APPROX. EUR 60 MIO MILESTONES AND TIERED DOUBLE-DIGIT ROYALTIES
Hamburg, Germany - 02 May 2012: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) and Conba Pharmaceutical Co., Ltd. announced today the grant of a development and marketing license on EVT 401, a selective, small molecule P2X7 antagonist, for human indications with exception of ophthalmological, chronic obstructive pulmonary disease (COPD) and endometriosis in China.
Evotec receives a small upfront payment, development and commercial milestone payments in excess of EUR 60 m, and tiered double-digit royalties on net sales. The agreement grants Conba Pharmaceutical exclusive rights to develop and commercialise the compound for the Chinese market. Evotec will have the right to reference clinical data produced by Conba Pharmaceutical to support potential further development of EVT 401 in other territories.
P2X7 receptor antagonism may provide a novel approach for the treatment of inflammatory conditions. Evotec has completed the first Phase I, single dose study of EVT 401 in 2010. Conba Pharmaceutical will initiate further clinical trials with EVT 401 in China in inflammatory diseases.
Dr Werner Lanthaler, CEO of Evotec said: "We are very pleased to partner with Conba, a leading Chinese pharmaceutical company, to tap into the Chinese market for inflammatory diseases, such as rheumatoid arthritis. This partnership will also increase the value of the P2X7 programme worldwide, and follows our strategy to align with the best and most dedicated partners in the industry."
Yu Bin, General Manager of Conba Pharmaceutical comments: "We are delighted about the collaboration with Evotec, a global leader in drug discovery and development. This collaboration expands our ongoing strategy to become an innovator in China for pharmaceutical R&D. We are confident about the potential of this compound to become a novel treatment for inflammatory diseases."