HAMBURG, Germany, June 27, 2011 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced the achievement of specific success criteria in an ion channel research collaboration with Ono Pharmaceutical Co., Ltd. (Ono) and the receipt of a milestone payment. This collaboration project was initiated in October 2009 to identify small molecules targeting an ion channel implicated in cardiovascular, CNS and urological diseases in one and a half years and now successfully identified multiple compounds meeting various criteria in activity, selectivity and pharmacokinetic characteristics. Evotec and Ono now agree to continue this research collaboration until April 2012 and enter into lead optimisation with the goal to generate new chemical entities, which will have the potential to become new drug candidates. Ono has a worldwide right to develop and commercialize compounds generated by Evotec in this collaboration.
Dr Mario Polywka, Chief Operating Officer of Evotec, commented: "We are delighted to deliver high value molecules to our partner Ono and to expand our collaboration. We enjoy a very successful and close relationship. This achievement clearly demonstrates the value we bring to our alliance partners in the area of drug discovery. We look forward to continuing working closely with our colleagues at Ono."
"We are very pleased to achieve the research milestone and progress into lead optimisation with a project. We highly appreciate a wide range of drug discovery technologies at Evotec and the experiences of their scientists. We are confident that multiple preclinical candidates will be identified in near future," said Kazuhito Kawabata, Ph.D., Managing Director, Research Headquarters at Ono.
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic. The Company has established a unique position by assembling top-class scientific experts and integrating state- of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuroscience, pain, metabolic diseases as well as oncology and inflammation. Evotec has long-term discovery alliances with partners including Boehringer Ingelheim, CHDI, Genentech, Medimmune/Astra Zeneca, Novartis and Ono Pharmaceutical. In addition, the Company has existing development partnerships and product candidates both in clinical and preclinical development. These include partnerships with Boehringer Ingelheim, MedImmune and with Andromeda (Teva) in the field of diabetes. For additional information please go to http://www.evotec.com/">www.evotec.com.
ABOUT ONO PHARMACEUTICAL CO., LTD.
In keeping with its philosophy of "Dedicated to Man's Fight against Disease and Pain" Ono has always striven to achieve its goal of serving as an R&D-oriented global speciality pharmaceuticals, aiming to develop innovative and globally recognized drugs. To do this, Ono has been engaged in drug discovery research based on accumulated technologies and know-how – in areas where Ono's strengths can be fully exploited (i.e. bioactive lipid agonists and enzyme inhibitors such as proteases and kinases). In addition, modulators of membrane transport system such as ion-channels and transporters as well as biotechnology based medicines are also the areas of our focus where we drive forward our research effectively deploying our research know-how together with the latest information acquired from global research institutions on drug discovery targets and the cutting-edge drug discovery technologies that biopharmaceutical companies can offer. For additional information please go to www.ono.co.jp.
FORWARD-LOOKING STATEMENTS — Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this report. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.