Evotec and Merck KGaA to Collaborate on Neurological Disease Target
HAMBURG, Germany, Nov 23, 2010 (GlobeNewswire via COMTEX) -- Evotec AG (frankfurt:EVT) (TecDAX) today announced that it has signed within the "NEU²-Consortium" framework and partially funded by the Federal Ministry of Education and Research (Bundesministerium fuer Bildung und Forschung - BMBF), an agreement with Merck KGaA, Darmstadt, Germany, to develop pre-clinical candidates for an undisclosed neurological disease. Evotec will provide drug discovery expertise covering in vitro biology, medicinal chemistry and in vitro and in vivo pharmacology.
As part of the collaboration, Evotec will apply their integrated drug discovery expertise and technologies to identify interesting small molecules for the selected target. The molecules will be further optimised and progressed through lead optimization to a pre-clinical candidate.
Dr Mario Polywka, COO of Evotec commented: "We are proud to be part of the NEU² consortium and we are extremely pleased that Merck KGaA selected Evotec to collaborate on this interesting Drug Discovery Program which is a further recognition of our CNS disease expertise."
The NEU² consortium, including, amongst others, Merck KGaA, Evotec AG, European ScreeningPort GmbH, Bionamics GmbH, and the University Medical Center Hamburg-Eppendorf was successful in the nationwide "BioPharma" strategy competition of The Federal Ministry of Education and Research (Bundesministerium fuer Bildung und Forschung - BMBF). The "BioPharma" strategy competition aims to promote innovative partnerships between academic institutions, biotechnology and pharmaceutical companies in order to strengthen the pharmaceutical value chain in Germany. The NEU² consortium focuses on the development of novel therapies against neurological diseases with a specific focus on multiple sclerosis. The NEU² consortium is coordinated by Bionamics GmbH (Bionamics), an independent project management company and founder of NEU².
ABOUT EVOTEC AG
Evotec is a leader in the discovery and development of novel small molecule drugs with operational sites in Europe and Asia. The Company has built substantial drug discovery expertise and an industrialised platform that can drive new innovative small molecule compounds into the clinic. In addition, Evotec has built a deep internal knowledge base in the treatment of diseases related to neuroscience, pain, oncology, inflammation and metabolic diseases. Leveraging these skills and expertise the Company intends to develop best-in-class differentiated therapeutics and deliver superior science-driven discovery alliances with pharmaceutical and biotechnology companies. Evotec has long-term discovery alliances with partners including Boehringer Ingelheim, CHDI, Genentech, Novartis, Ono Pharmaceutical and Roche. Evotec has product candidates in clinical development and a series of preclinical compounds and development partnerships, including for example a strategic alliance with Roche for the EVT 100 compound family, subtype selective NMDA receptor antagonists for use in treatment-resistant depression and an alliance in the field of diabetes with Andromeda (Teva). 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. Such forward-looking statements include, but are not limited to, statements about our expected 2010 financial results and financial growth in 2011, our anticipated financing needs, our ability to deliver on our liquidity guidance, our belief that we are on course to sustainable profitability latest in 2012, our expectations and assumptions concerning regulatory, clinical and business strategies, the progress of our clinical development programmes and timing of the commencement and results of our clinical trials, strategic collaborations and management's plans, objectives and strategies. These 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. In particular, the risks and uncertainties include, among other things: risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured; the risk that we will not achieve the anticipated benefits of our collaborations, partnerships and acquisitions in the timeframes expected, or at all; risks relating to our ability to advance the development of product candidates currently in the pipeline or in clinical trials; our inability to further identify, develop and achieve commercial success for new products and technologies; the risk that competing products may be more successful; our inability to interest potential partners in our technologies and products; our inability to achieve commercial success for our products and technologies; our inability to protect our intellectual property and the cost of enforcing or defending our intellectual property rights; our failure to comply with regulations relating to our products and product candidates, including FDA requirements; the risk that the FDA may interpret the results of our studies differently than we have; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully secure regulatory approval of and market our drug candidates; and risks of new, changing and competitive technologies and regulations in the U.S. and internationally.
The list of risks above is not exhaustive. Our most recent Annual Report on Form 20-F, filed with the Securities and Exchange Commission, and other documents filed with, or furnished to the Securities and Exchange Commission, contain additional factors that could impact our businesses and financial performance. 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.
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SOURCE: Evotec AG
CONTACT: Evotec AG
Dr Werner Lanthaler, Chief Executive Officer
Fax: +49.(0)40.560 81-333