Hamburg, Germany -27 October 2011: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) today announced the achievement of specific success criteria in a multiple target drug discovery collaboration with Shionogi & Co Ltd. and the receipt of two milestone payments. Evotec and Shionogi will continue to collaborate to progress the fragments through the drug discovery process.

The collaboration was initiated in October 2010 to identify small molecule modulators of various protein-protein interaction targets selected by Shionogi. Evotec has applied its proprietary and integrated fragment-based drug discovery platform EVOlutionSM to the selected targets. Active fragments have been further characterised by X-ray crystallography to obtain structural information to aid selection of the best fragment optimization strategy. A team of medicinal chemists, biologists, computational chemists and structural biologists will in close collaboration with Shionogi progress the molecules through the fragment to lead and lead optimization stages.  

Dr Mario Polywka, Chief Operating Officer of Evotec, commented: "We are extremely proud that we have reached our first project milestones with Shionogi. This is further validation of our expertise and capabilities in fragment-based drug discovery and we look forward to further supporting Shionogi in the discovery of novel therapeutics."

No financial details are disclosed. 

About EVOlutionSM

EVOlutionSM is Evotec's fragment-based drug discovery platform which combines biochemical and biophysical techniques including nuclear magnetic resonance (NMR), surface plasmon resonance (SPR) and X-ray crystallography for the screening of low molecular weight compounds and characterization of the fragment hits. By the combination of the orthogonal screening technologies, Evotec's fragment screening platform is capable of screening a more diverse set of biological targets than other fragment screening approaches, as well as being able to screen the fragments in a high-throughput mode. The benefit of this is the ability to identify active fragments for numerous classes of biological targets in a short timeframe. For further information, please refer to:www.evotec.com/fragment-based drug discovery.

About Fragment-based Drug Discovery

Fragment-based drug discovery (FBDD) is a drug discovery strategy that utilises small molecules - fragments of more complex molecules - to generate efficient starting points for drug discovery. This approach thus provides the opportunity to effectively manage the molecular weight and overall complexity of drug candidates, a recognised success factor in drug development.

Forward-Looking Statements

Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this report. Such forward-looking 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. 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.