Panacos Extends Medicinal Chemistry Contract with Evotec into Fourth Year and Expands into Development Chemistry

Hamburg, Germany | Oxford, UK - Evotec AG (Frankfurt Stock Exchange: EVT) announced today that Panacos Pharmaceuticals, Inc. (NASDAQ: PANC) has extended its ongoing discovery collaboration with Evotec into its fourth year. Applying its expertise in medicinal chemistry, Evotec has supported Panacos since 2004 in identifying novel compounds for treating viral infection.
Based on excellent progress, the work programme has been extended and expanded to include Evotec's development chemistry services. This development support includes the scale-up of selected compounds for development studies and the optimisation of compounds prior to their selection for clinical studies through experiments such as salt screens.
"Evotec's scientific expertise and project management skills are truly world-class," commented Dr Graham Allaway, Chief Operating Officer and President of Panacos. "Based on their excellent track record in moving compounds through discovery and into development, we decided to broaden the scope of our work with them. We are looking forward to continuing our productive relationship."
"We are impressed by Panacos' novel approaches to HIV therapy and are delighted that they have chosen Evotec to support their efforts in building critical mass around their lead programme in this exciting disease area with high unmet medical need," said Dr Mark Ashton, Executive Vice President Business Development Services at Evotec. "It is rewarding to see the continued success of this maturing project in which we capitalise on our combined skills in drug discovery and development."
Contact: Anne Hennecke, SVP, Investor Relations & Corporate Communications, Evotec AG, Phone: +49-40-56081-286,