EVOTEC OAI Signs Two Chemistry Services Contracts With Lilly

1 March 2001 -  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 secured two contracts with Eli Lilly and Company (NYSE: LLY), a world leading pharmaceutical company. The two contracts span the provision of chemistry services by EVOTEC OAI to Lilly across drug discovery for the first and process research and development for the second. Each contract covers an initial fixed term of one year with an option to extend. The details of each contract are outlined below:
Discovery Services Agreement
Within this Discovery Services Agreement, EVOTEC OAI will provide a team of dedicated Full Time Equivalent (FTE) chemists to work exclusively on the design and synthesis of compounds for lead generation, validation as well as lead optimisation for key drug candidates to be included in Lilly's discovery pipeline.
Development Services Agreement
The Development Services Agreement has a second team of FTE chemists dedicated exclusively to Lilly process research and development projects. The Agreement also calls for EVOTEC OAI to subsequently scale up in its cGMP facilities several of Lilly's active pharmaceutical ingredients (APIs) for use in clinical trials.
In total, 18 FTEs are contracted to Lilly in these two agreements.
Edwin Moses, EVOTEC OAI's  President and Head of Business Development: "We are delighted to have secured these two contract wins with Lilly, one of the world's leading pharmaceutical companies. We are pleased to have the opportunity to work with both the European and US arms of their R&D business to help them add value to their drug discovery and development programs through the application of our leading-edge chemistry solutions."
For further information please contact:
Dr Edwin Moses, President                                                              
+44 (0)1235 861561  
Anne Hennecke, Investor Relations                                                   
+49 (0)40 56081286
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.
On July 31, 2000, EVOTEC BioSystems AG, a German registered public company, and Oxford Asymmetry International (OAI), a U.K. registered public company, announced their intention to merge. This merger became unconditional on September 29, 2000. OAI formally de-listed from the London Stock Exchange on December 1, 2000.
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.