Hamburg, Germany - 15 February 2011: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) today announced that it has entered into a collaboration with ChemBridge, to further enhance its screening library. This collaboration demonstrates Evotec's continued improvement to its industry leading hit identification platform.
Evotec's library of 250,000 drug-like and lead-like compounds is available to clients for screening and differentiated itself from other screening libraries through quality, diversity and novelty.Through this collaboration, Evotec will increase its high throughput screening collection through the addition of initially 110,000 diverse and lead-like compounds from the ChemBridge Library Collection. These new compounds complement the chemical diversity of Evotec's existing collection and will further enhance the quality of the hits provided to our partners.
Dr Mario Polywka, Chief Operating Officer at Evotec stated: "We are happy to partner with ChemBridge on the expansion of Evotec's high throughput screening collection. This collaboration coupled with our continued investment in our world leading, hit-identification platform will allow Evotec to maintain our market leadership and continue to provide high quality hit compounds to our clients."
Mr. Eugene Vaisberg, Chief Executive Officer at Chembridge, commented: "We are pleased to have this opportunity to work with Evotec. This alliance will allow ChemBridge to expand the reach of its renowned small molecule screening library via Evotec's industry leading hit- identification platform."
No financial details are disclosed.
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about our expected 2010 financial results and financial growth in 2011, our anticipated financing needs, our ability to deliver on our liquidity guidance, our belief that we are on course to sustainable profitability latest in 2012, our expectations and assumptions concerning regulatory, clinical and business strategies, the progress of our clinical development programmes and timing of the commencement and results of our clinical trials, strategic collaborations and management's plans, objectives and strategies. These 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. In particular, the risks and uncertainties include, among other things: risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured; the risk that we will not achieve the anticipated benefits of our collaborations, partnerships and acquisitions in the timeframes expected, or at all; risks relating to our ability to advance the development of product candidates currently in the pipeline or in clinical trials; our inability to further identify, develop and achieve commercial success for new products and technologies; the risk that competing products may be more successful; our inability to interest potential partners in our technologies and products; our inability to achieve commercial success for our products and technologies; our inability to protect our intellectual property and the cost of enforcing or defending our intellectual property rights; our failure to comply with regulations relating to our products and product candidates, including FDA requirements; the risk that the FDA may interpret the results of our studies differently than we have; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully secure regulatory approval of and market our drug candidates; and risks of new, changing and competitive technologies and regulations in the U.S. and internationally. The list of risks above is not exhaustive. Our most recent Annual Report on Form 20-F, filed with the Securities and Exchange Commission, and other documents filed with, or furnished to the Securities and Exchange Commission, contain additional factors that could impact our businesses and financial performance. 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.