Hamburg, Germany | Oxfordshire, UK | Baltimore, MD, USA - Evotec OAI AG (Frankfurt Stock Exchange: EVT, TecDAX 30), a leading partner for integrated high-value-added drug discovery and development solutions to the pharmaceutical and biotechnology industries, today announced that it has entered into a drug discovery agreement with Guilford Pharmaceuticals Inc., to identify small molecule compounds that interact with selected Guilford targets.
In the search for novel drugs Evotec OAI will provide an integrated biology solution including developing assays and screening them in an ultra-high throughput format against multiple Guilford targets. Evotec OAI will apply its proprietary and validated screening technologies, its expertise and its screening library of 250,000 drug-like small molecule compounds. In addition, Evotec OAI will provide profiling services to Guilford to further characterise selected hits for progression.
Evotec OAI will receive research fees for the activities performed and milestone payments on the successful pre-clinical development of the drug compounds and their approval for further clinical development.
Joern Aldag, President and Chief Executive Officer of Evotec OAI, said: "Guilford has been extremely successful in research and in developing a strong product pipeline. We are delighted that they have chosen Evotec OAI as their partner to identify novel structures to progress towards the clinic. Our fast assay development and highly sensitive high-throughput screening solutions ideally complement Guilford's internal expertise and we are convinced that we will add significant value to their drug discovery programme."
Dr Barbara Slusher, Senior Vice President of Research and Toxicology at Guilford, commented: "Guilford has maintained a strong focus on earlier-stage R&D even as we continue to expand our franchise in approved and late-stage products for the hospital-based market. Early discovery and research will be one of the important engines of our pipeline, and we believe that Evotec, as a leader in assay development and screening, will play an important role in this effort."
About Evotec OAI AG
Evotec OAI has established itself as the partner of choice for drug discovery and development solutions for pharmaceutical and biotechnology companies worldwide, maintaining its leadership role through innovation and unmatched customer service.
The Company's business strategy is clearly focussed on drug discovery. It has established the most comprehensive technology platform and skills that integrate its world-class biology and chemistry capabilities. Evotec OAI leverages this discovery engine in providing assay development and screening through to compound optimisation and drug manufacturing services to a broad and well-established network of customers. In addition, the Company engages in selected discovery programmes itself to develop drug candidates for early out-licensing. Evotec OAI's instrument and technology business is now successfully handled by its affiliate, Evotec Technologies.
With over 600 people in Hamburg, Germany and Oxfordshire, UK, Evotec OAI is dedicated to returning value to its shareholders and employees through a sustainable business strategy that balances short-term and long-term revenue opportunities.
About Guilford Pharmaceuticals Inc.
Guilford Pharmaceuticals Inc. is a fully integrated pharmaceutical company engaged in the research, development and commercialization of products that target the hospital market. Presently, Guilford markets two commercial products, GLIADEL(R) Wafer (polifeprosan 20 with carmustine implant), for the treatment of brain cancer, and AGGRASTAT(R) Injection (tirofiban hydrochloride), a glycoprotein GP IIb/IIIa receptor antagonist used for the treatment of acute coronary syndrome (ACS). Guilford's product pipeline includes a novel anesthetic, AQUAVAN(R) Injection, and drugs for treating Parkinson's disease and post-prostatectomy erectile dysfunction.
Contact: Anne Hennecke, Investor Relations & Corporate Communications, Evotec OAI AG, Phone: +49-40-56081-286, firstname.lastname@example.org
Contact: Anne Hennecke,Investor Relations & Corporate Communications, Evotec OAI AG, Phone: +49-40-56081-286, email@example.com