Hugin Ad hoc announcement according to § 15 WpHG: Misc. strategic decisions: Evotec AG: Evotec Discontinues EVT 301 Development Programme
Hamburg, Germany | Oxford, UK - Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) today reported that during the one month safety and tolerability study with EVT 301 in young and elderly volunteers, several cases of asymptomatic elevated liver function tests in the elderly group have been observed. All cases reversed spontaneously. No cases of elevated liver function tests were observed within the young healthy volunteer group.
In the light of these findings Evotec has stopped the ongoing Phase I trials and has decided today to discontinue the development programme. As the planned Phase II trial with EVT 301 will not be executed this will free approximately EUR 20 million of R&D money over the next two to three years for other development programmes.
EVT 301 is an orally active, selective and reversible inhibitor of monoamine oxidase B (MAO-B) which was in development for Alzheimer's disease.
Contact: Anne Hennecke, Director, Investor Relations & Corporate Communications, Evotec AG, Schnackenburgallee 114, 22525 Hamburg, Germany, Phone: +49.(0)40.560 81-286, anne.hennecke@evotec.com
In the light of these findings Evotec has stopped the ongoing Phase I trials and has decided today to discontinue the development programme. As the planned Phase II trial with EVT 301 will not be executed this will free approximately EUR 20 million of R&D money over the next two to three years for other development programmes.
EVT 301 is an orally active, selective and reversible inhibitor of monoamine oxidase B (MAO-B) which was in development for Alzheimer's disease.
Contact: Anne Hennecke, Director, Investor Relations & Corporate Communications, Evotec AG, Schnackenburgallee 114, 22525 Hamburg, Germany, Phone: +49.(0)40.560 81-286, anne.hennecke@evotec.com
