HAMBURG, Germany, Dec. 18, 2014 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) (ISIN:DE0005664809) disclosed today that it achieved multiple milestones in ongoing alliances with its strategic research partners. The milestones were reached in its multi-target collaboration with Bayer HealthCare ("Bayer") in endometriosis and within its partnership with Janssen Pharmaceuticals, Inc. ("Janssen") for the EVT100 series for the treatment of CNS diseases. These milestones trigger revenues of approx. € 8 m in total which will be recognised in the financial year 2014.
Multi-target collaboration with Bayer
In its multi-target collaboration with Bayer, Evotec has reached important milestones for the transition of certain molecules into pre-clinical development for the treatment of endometriosis. These milestones were achieved under the agreement between Evotec and Bayer signed in October 2012. The goal of this collaboration is to identify three clinical candidates within the five-year alliance. Both parties contribute innovative drug targets and high-quality technology infrastructures and share the responsibility for early research and pre-clinical characterisation of potential clinical candidates in the disease area of endometriosis.
Cooperation with Janssen
In its collaboration with Janssen on a NR2B subtype selective NMDA-antagonist portfolio for development against CNS diseases, Evotec has reached an important validation milestone for a new compound.
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, inflammation and infectious diseases. Evotec has long-term discovery alliances with strategic partners including Bayer, Boehringer Ingelheim, CHDI, Genentech, Janssen Pharmaceuticals, MedImmune/AstraZeneca, Roche and UCB. In addition, the Company has existing development partnerships and product candidates both in clinical and pre-clinical development. These include partnerships with Boehringer Ingelheim and MedImmune in the field of diabetes, with Janssen Pharmaceuticals in the field of depression and with Roche in the field of Alzheimer's disease. For additional information please go to www.evotec.com.
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 press release. 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.