Evotec announces NMDA antagonist license agreement

Hamburg, Germany - 17 December 2012: Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) today announced that it has entered into a license agreement with Janssen Pharmaceuticals, Inc. ('Janssen') regarding its NR2B subtype selective NMDA-antagonist portfolio for development against diseases in the field of depression.
Under the terms of this agreement Janssen has been granted an exclusive, worldwide license to a series of small molecule drug candidates. Evotec will receive an upfront payment of USD 2 million with an additional USD 6 million to be paid upon confirmation of certain pre-clinical properties of the candidates. Evotec is eligible to receive additional milestone payments from Janssen upon the successful completion of certain clinical, regulatory and launch events for a first product, which may total up to USD 67 million, as well as additional, reduced milestone payments upon successful completion of certain events for additional indications and/or compounds. Evotec shall be entitled to receive an additional USD 100 million in commercial milestones depending and upon meeting certain sales thresholds and royalties which could be as high as double-digit on certain future sales of royalty bearing products. Evotec will share portions of the payments with F. Hoffmann-La Roche Ltd., which originally discovered the molecules.
Contact: Dr Mario Polywka, Chief Operating Officer, Evotec AG, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +44 (0)1235 441676, mario.polywka@evotec.com