Evotec and Yale University Form Open Innovation Alliance
HAMBURG, Germany, Jan. 9, 2013 -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced that it has entered into a strategic partnership with Yale University.
Under the agreement, Evotec and Yale intend to leverage first rate science performed at Yale University together with Evotec´s drug discovery infrastructure and expertise into highly innovative discovery approaches in diseases of high unmet medical need. Initially, Evotec and Yale have defined a wide range of scientific fields including metabolic diseases, CNS, immunological diseases and cancer where they will jointly assess and potentially pursue novel assays, screens and models but in particular exploratory drug targets and compounds. The intention is to seamlessly integrate Evotec's drug discovery infrastructure with highly innovative biology at Yale to mature individual projects to a stage where they can be commercialised.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are very excited about this open innovation alliance with Yale. There is a tremendous wealth of scientific innovation at Yale that has the potential to be directly translated into first- and best-in class drug candidates. Together we want to significantly accelerate this process by removing technical bottlenecks and focusing all efforts on bringing individual projects to highest industrial standards in preparation for development and commercialisation partnerships with Pharma companies."
"This agreement is a new collaboration model between academia and the pharmaceutical industry. It essentially gives all faculties at Yale the opportunity to directly translate new biological insights into top notch drug discovery projects. Evotec is uniquely suited as a partner as they combine an extremely broad drug discovery platform with fast processes and proven commercialisation skills", said Dr Jon Soderstrom, Managing Director of Yale's Office of Cooperative Research.
No financials were disclosed.
Founded in 1810, the Yale School of Medicine is a world-renowned centre for biomedical research, education and advanced health care. Among its 27 departments are one of the nation's oldest schools of public health and the internationally recognized Child Study Center, founded in 1911. Yale School of Medicine consistently ranks among the handful of leading recipients of research funding from the National Institutes of Health and other organizations supporting the biomedical sciences. Its core faculty of more than 1,100 physicians and scientists is well represented within the Institute of Medicine and National Academy of Sciences and among investigators of the Howard Hughes Medical Institute.
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 Bayer, 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 Andromeda (Teva) in the field of diabetes, 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 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.
For further information, please contact:
Dr Cord Dohrmann
Chief Scientific Officer
+49.(0)551.505 58 650
+44.(0)40.560 81-333 Fax
Manfred Eigen Campus
Essener Bogen 7
22419 Hamburg (Germany)