Evotec OAI Announces Drug Discovery Agreement with KeyNeurotek and the Institute of Medical Technology Magdeburg (IMTM)

Under the terms of the collaboration, Evotec OAI will assist KeyNeurotek and IMTM to develop new lead structures with respect to two of their partners' proprietary targets. This program is partly supported by the Bundesministerium für Bildung und Forschung (BMBF) programme "Innovative regionale Wachstumskerne - PharmaMD".

Siegfried Ansorge, Chief Executive Officer of IMTM said: "We are proud that our drug development on the basis of aminopeptidase inhibition will now be flanked by a new high-throughput effector screening supported by the drug discovery expertise of Evotec OAI.
Dr Frank Striggow, Chief Executive Officer of KeyNeurotek, added: "We have chosen Evotec OAI because of their strong scientific credentials. With its state-of-the-art EVOscreen® technologies, chemical expertise and track record Evotec OAI is ideally positioned to leverage our internal drug development pipeline."
Joern Aldag, President and Chief Executive Officer of Evotec OAI, commented: "We are looking forward to applying our drug discovery expertise to support aspiring young biotech companies in progressing their programmes towards the clinic. KeyNeurotek and the IMTM are two very promising partners."
About Evotec OAI AG
Evotec OAI offers a comprehensive range of high-value added services and products required to increase the efficiency and at the same time reduce the risk in the identification of new drugs. By integrating proprietary state-of-the-art technologies and processes in biology, chemistry and screening, the Company has established a unique position for all the critical elements in the drug discovery and development process - from target to clinical development. Due to its extensive know how and experience Evotec OAI is the ideal partner for pharma and biotech companies world-wide. To date, Evotec OAI has completed over 1,200 projects with 150 companies, including all of the top 20 global pharmaceutical companies and major biotechs.
The Company employs more than 600 people, primarily at its two main sites at Hamburg in Germany and Abingdon in the UK. Subsidiaries are located in Europe and North America. In 2001 Evotec OAI achieved revenues of EUR 63.2 million. Evotec OAI shares are listed on the Neuer Markt of the Frankfurt Stock Exchange since November 1999 (NM: EVT).

About KeyNeurotek AG
KeyNeurotek, a privately held biotechnology company, develops innovative therapies for different neurodegenerative diseases of the central nervous system (CNS). The company has introduced unique functional and tissue-based screening capabilities for compatible ex vivo and in vivo studies (TELOMICSTM). TELOMICSTM ideally complements common techniques like genomics, proteomics and high throughput screening (HTS). KeyNeurotek is located in Magdeburg, Germany, one of the leading centres of neuroscience in Europe. This exceptional environment has enabled the company to build-up a strong network of research and development (R&D) collaborations with local and international partners, among them the Leibniz-Institute for Neurobiology, the Otto-von-Guericke University Magdeburg, the University of Southampton (UK) and the University of Southern Denmark in Odense.
For further information please contact:
Dr Frank Striggow
KeyNeurotek AG
ZENIT Technology Park
Leipziger Strasse 44
D-39120 Magdeburg
+49 391 6117 220 (phone)
+49 391 6117 221 (fax)
About IMTM GmbH
IMTM offers highly specialised lab and CRC services for clinical and experimental medicine using latest technologies as well promoting inter-disciplinary development in this area. In addition, IMTM is specialised in big animal studies as sheeps and goats, particularly in the field of cardiology and pneumology.
IMTM has developed new strategies for the treatment of immune-mediated diseases as allergies, transplant rejection, autoimmune diseases and dermatologic diseases. The new concept is based on the combined inhibition of alanyl aminopeptidases and dipeptidyl aminopeptidase IV which are playing a crucial role in regulating immunosuppressive mechanisms.
For further information please contact:
Prof. Dr. Siegfried Ansorge
ZENIT Technology Park
Leipziger Str.44
D-39120 Magdeburg
+49391 6117 352 (phone)
+49391 6117 351 (fax)