P2X7 antagonist programme, EVT 401, to a top tier global animal health company partnered
Exclusive license granted to major animal health company for development of Evotec proprietary compound
Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) today announced that it has entered into a world-wide license and collaboration agreement with a top tier animal health company that intends to develop the proprietary Evotec compound EVT401, a selective, small molecule P2X7 antagonist, in the companion animal market.
Evotec is entitled to receive a technology- transfer payment, development and commercial milestone payments, and tiered royalties on net sales. Evotec retains all rights to the programme for human therapeutic use.
Dr Werner Lanthaler, Chief Executive Officer of Evotec, commented: “We are very pleased to be partnering with a company that has proven capabilities for developing drug candidates for animal indications. This deal not only gives us additional product value, but also nicely proves the strength of our medicinal chemistry approach. We look forward to closely collaborate with this top animal health company to make this product development a success.”
Financial details related to the agreement are not being disclosed.
The P2X7 receptor is an ATP-gated ion channel primarily expressed on cells of the immune system and is thought to play an important role in inflammatory processes through the regulation of a number of proinflammatory cytokines such as IL-1ß. P2X7 receptor antagonism may therefore provide a novel approach for the treatment of inflammatory conditions.
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.
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