First Milestone in Oncology Programme with Boehringer Ingelheim
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) today announced that it has achieved a milestone as part of its research alliance with Boehringer Ingelheim and will receive a payment of EUR 2.5 million. The milestone was achieved for the selection of a candidate compound for pre-development studies in an oncology programme.
Dr Werner Lanthaler, Chief Executive Officer of Evotec commented: “We are particularly pleased about achieving this milestone in the oncology programme, as the alliance was only expanded to this therapeutic area in late 2009. We are very proud of the high value we continue to bring to Boehringer Ingelheim’s research efforts and the ongoing fruitful relationship between the research teams from both companies.”
About the Evotec & Boehringer Ingelheim alliance
In 2004, Evotec entered into a multi-year, multi-target drug discovery alliance with Boehringer Ingelheim to jointly identify and develop preclinical development candidates for the treatment of various disease areas including CNS, inflammation, cardiometabolic and respiratory diseases. In 2009, the collaboration was extended for an additional four years and the scope expanded to include oncology targets. Under the terms of the agreement, Boehringer Ingelheim has full ownership and global responsibility for clinical development, manufacturing and commercialisation of the compounds identified. In return, Evotec receives ongoing research payments and preclinical milestones. Furthermore, the contract provides substantial long-term upside for Evotec through potential payments for successful milestone achievements during clinical development and royalties when new drugs reach the market.
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