Evotec AG : Evotec extends ongoing collaboration with CHDI Foundation
10/29/2012
* Collaboration aims to accelerate development of drugs that slow the progression of Huntington's disease (HD)
* Evotec eligible to receive up to USD 41 million
Hamburg, Germany | Oxford, UK | Los Angeles, CA, USA - 29 October 2012: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) today announced that CHDI Foundation, Inc. (CHDI), a privately-funded not-for-profit research organisation dedicated to developing therapies for Huntington's disease (HD), has extended its collaboration with Evotec until the end of 2015. This contract extension could be worth up to USD 41 million in research payments for Evotec.
The collaboration takes full advantage of Evotec's integrated drug discovery platform and its proficiency in neurological research, including its expertise in medicinal chemistry, in vitro and in vivo pharmacology, and compound management. Evotec and CHDI entered into this alliance in March 2006, and since then the collaborative relationship has grown significantly. The extension of this collaboration further validates Evotec's broad expertise in CNS drug discovery and development.
'We are delighted that CHDI, an organisation dedicated solely to the quest to discover novel drugs against Huntington's disease, continues to work in partnership with Evotec,' said Dr Mario Polywka, Chief Operating Officer of Evotec. 'This collaboration is an excellent example of how companies, including foundations such as CHDI, can access Evotec's platform suite of technologies, capabilities and strong disease biology expertise, to drive their drug discovery efforts.'
'CHDI partners with a global network of investigators from the academic, biopharmaceutical, and service sectors to execute our drug discovery and development efforts,' said Dr Robert Pacifici, Chief Scientific Officer at CHDI. 'Evotec represents one of our largest and longest standing relationships with a contract research organisation. We are delighted that, with the renewal of our contract, CHDI and Evotec will be able to continue our productive interactions and drive our therapeutic programs forward.'
About Huntington's disease
Huntington's disease is a familial disease caused by a mutation in the huntingtin gene. Each child of a parent with the mutation in the huntingtin gene has a 50-50 chance of inheriting the mutation. As a result of carrying the mutation, an individual's brain cells fail and die leading to cognitive and physical impairments that, over the course of the disease, significantly impair the individual's quality of life and ultimately cause death. Symptoms of Huntington's disease, which generally develop in midlife and become progressively more debilitating as time passes, can also develop in infancy or old age. Once overt symptoms start, patients live for about 15 to 20 years. One person in 10,000 is believed to carry a mutation in the huntingtin gene. There is currently no way to delay the onset of symptoms or slow the progression of Huntington's disease.
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.