Evotec OAI Signs Technology Agreement With Celltech

Hamburg, Germany | Abingdon, UK - Evotec OAI, Hamburg, Germany (EVOTEC BioSystems AG, Neuer Markt: EVT), a supplier of integrated high-value added biological, chemical and screening services to the pharmaceutical and biotech industries, has signed a technology agreement with Celltech Group plc (LSE: CCH, NYSE: CLL), a leading European biopharmaceutical company.
Evotec OAI will apply its proprietary VLiP(TM) (virus-like particle) technology to two of Celltech's GPCR (G-Protein Coupled Receptor) targets. For both targets, Evotec OAI will express the protein, develop screening assays and produce concentrated VLiP(TM) protein for further characterisation. The VLiP(TM) technology offers the potential to develop robust generic assays and is an ideal tool for generating cell-based assays. A VLiP(TM) particle carries the receptor of interest at high concentration in its normal physiological environment. This innovative technology eliminates many conventional problems that now occur when cellular systems are used in drug discovery, such as inaccuracy, a lack of reproducibility or instability.
On successful completion of this evaluation, Celltech will have the option to obtain from Evotec OAI a non-exclusive licence to use Evotec OAI's VLiP(TM) technology. This licence agreement will include an upfront payment and annual fee, as well as milestone payments for any drug products discovered through the use of the VLiP(TM) technology. 
Edwin Moses, Evotec OAI's President and Head of Business Development: "We are delighted to enter into this collaboration with one of Europe's leading biopharmaceutical companies. We expect our enabling technology to make a significant contribution to Celltech's drug development activities. "
Evotec OAI offers the full range of high-value added products and services required to discover and develop drugs more effectively and efficiently. By integrating accelerated methods in biology, chemistry and screening, the Company has established a unique position as a one-stop-shop for all the critical elements in the drug discovery research and development process from target to clinical development. Approximately 500 people are based in Hamburg, Germany and Abingdon, U.K. Evotec OAI already has close links with many of the leading companies in the pharmaceutical and biotechnology industries. The Company's shares are listed on the Neuer Markt of the Frankfurt Stock Exchange.
Celltech Group plc is one of Europe's largest biopharmaceutical companies, with an extensive late stage development pipeline and a profitable, cash-generative pharmaceutical business. Celltech also possesses a drug discovery capability of exceptional strength, including a leading position in antibody engineering.
The statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties including, without limitation, risks associated with the inherent uncertainty of pharmaceutical research, product development and commercialization, the impact of competitive products, patent, product liability and third party reimbursement risks associated with the biotechnology industry, and the other risks and uncertainties detailed from time to time in Oxford Asymmetry International's periodic reports. Actual results may differ from the forward-looking statements.