Hamburg, Germany | Abingdon, UK | Tokyo, Japan - Evotec OAI AG, Hamburg, Germany (Neuer Markt: EVT), a supplier of integrated high value added drug discovery services, announced today that it has entered into a drug discovery collaboration with Taisho Pharmaceutical Co., Ltd. Tokyo, Japan.
 
Evotec OAI will perform biology R&D on selected Taisho targets (including target expression and reagent production) and develop assays for those targets using Evotec OAI's proprietary VLiP(TM) technology. Upon successful development of the assays, Evotec OAI will screen the targets against compounds from the Evotec OAI corporate chemical library using EVOscreen®, its ultra-high-throughput screening platform, and will characterise hits identified in the screening.
 
Joern Aldag, President and Chief Executive Officer of Evotec OAI, said:
"We are delighted about Taisho's decision to select Evotec OAI as their drug discovery partner. For Evotec OAI this agreement represents the first integrated biology and chemistry collaboration with a Japanese pharmaceutical company. We are confident that we can make a significant contribution to Taisho's drug discovery programmes."
 
Kunihiro Kitamura, Executive Officer of Taisho Pharmaceutical Co., Ltd. said:
"We consider Evotec OAI's technologies such as VLiP(TM) technology and EVOscreen® to be superior technologies and we expect that this discovery collaboration will bring a contribution to our research and development activity for the discovery research."
 
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 pharma and biotech companies world-wide. 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 nearly 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 Neuer Markt of the Frankfurt Stock Exchange since November 1999 (NM: EVT).