HAMBURG, Germany, Oct. 5, 2011 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced that it has entered into a second multi year, multi target integrated drug discovery collaboration with UCB in the field of immunology.
As part of the collaboration, Evotec will apply their integrated drug discovery expertise and technologies to identify interesting small molecules against a selected number of targets. The molecules will be further optimised and progressed through lead optimization to a pre-clinical candidate.
Evotec will receive research funding based on the resource allocated over the projects and will be further rewarded on achieving the goals of the research collaboration with early stage discovery, preclinical and clinical milestones. In addition Evotec will receive royalties based on net sales of any approved drugs from the collaboration.
Dr Werner Lanthaler, Chief Executive Officer at Evotec stated: "We are extremely pleased that UCB has again selected Evotec to collaborate on this second significant Drug Discovery Collaboration. This integrated drug discovery deal showcases our broad target class expertise coupled with our industry leading platform. We look forward to a fruitful collaboration with our scientific colleagues and friends at UCB."
Dr Ismail Kola, President, UCB NewMedicines commented: "Evotec is the ideal partner to provide the resource bandwidth and drug-hunting expertise to complement our internal efforts to progress this strategically important program."
No financial details are disclosed.
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, 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 www.evotec.com.
ABOUT UCB
UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. With more than 8,000 people in about 40 countries, the company generated revenue of EUR 3.2 billion in 2010. UCB is listed on Euronext Brussels (symbol:UCB).
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.