Evotec announces Research Agreement with Biogen Idec
- Evotec will use its expertise and capabilities in compound screening to identify hit compounds
Hamburg, Germany / Oxford, UK - Evotec AG (Frankfurt Stock Exchange: EVT; NASDAQ: EVTC), a leading provider in the discovery and development of novel small molecule drugs, today announced that it has entered into a research agreement with Biogen Idec (NASDAQ: BIIB), a leading biopharmaceutical company headquartered in Cambridge, Mass., USA.
Evotec will use its expertise and technologies in protein production, assay development and high throughput screening to identify hit molecules for Biogen Idec. Under the research agreement Evotec will screen a target selected by Biogen Idec with the option to add further targets as agreed. Evotec will provide Biogen Idec with access to its full range of screening technologies and diverse library of high quality compounds and will use its expertise in protein production and assay development to develop new assays for the target.
Dr Mark Ashton, Evotec's EVP, Business Development commented: "We believe that the quality of future drug candidates is very much dependant on the identification of high quality starting points. To this end we have established a platform of screening technologies that have been proven to identify high-class hit molecules. We are looking forward to working with Biogen Idec and identifying interesting hit compounds for them."
Evotec has built a comprehensive platform of hit finding technologies that allow it to screen challenging targets and identify new classes of hit compounds that can be progressed towards new treatments for various diseases. These proven screening technologies coupled with Evotec's high quality screening library have been shown to unlock numerous biological targets and identify excellent start points for subsequent optimization.
No financial details are disclosed.
For further information, please contact:
Dr Werner Lanthaler
Chief Executive Officer
De Facto Communications
T : +44 (0) 20 7861 3043
About Evotec AG
Evotec is a leader in the discovery and development of novel small molecule drugs. The Company has built substantial drug discovery expertise and an industrialized 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, and inflammation. 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, Novartis, Ono Pharmaceutical and Roche. The Company has a P2X7 antagonist for the treatment of inflammatory diseases in clinical development and a series of preclinical compounds and development partnerships, including a strategic alliance with Roche for EVT 101, a subtype selective NMDA receptor antagonist, for use in treatment-resistant depression. For additional information please go to www.evotec.com
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