Evotec Wins Key Contracts with Solvay Pharmaceuticals
Fragment-Based Drug Discovery and a Third Extension of the Library Synthesis and Medicinal Chemistry Collaboration
22 January 2007 - Hamburg, Germany | Oxford, UK - Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX 30) announced the signing of two contracts with Solvay Pharmaceuticals, a member of the Solvay group specialising in global pharmaceutical R&D, manufacturing, sales and marketing.
In the first agreement Evotec has been chosen as Solvay’s partner for fragment-based drug discovery. Solvay will access Evotec’s proprietary fragment-based screening platform and fragment library to identify fragment hits against a high priority target. Evotec will produce 3-dimensional co-crystals of the fragment hits bound to the protein and then will use their track record in fragment-to-lead activities to further optimise the fragments. Evotec has validated their fragment-based drug discovery platform against various protein targets and have shown that the optimisation of resulting fragment hits can be achieved in reduced timelines when compared to industry standards. Key financial terms include an access fee payable by Solvay for accessing Evotec’s fragment-based screening technology.
The second agreement extends an existing library synthesis contract for a further twelve months from 1 January 2007. Evotec has been synthesising and supplying chemical libraries to Solvay, for screening against targets in its drug discovery programmes, since January 2001. Impressed by the continual meeting of key delivery targets and the excellent communication and project management skills demonstrated by Evotec, Solvay made the decision to extend the original contract for the third time in six years.
“In 2000, after extensive due diligence, Solvay chose Evotec as its key partner to complement Solvay’s in-house activities in the field of library synthesis. The design of multi-step libraries is the result of a collaborative partnership through which the specific strengths of the two companies are leveraged to achieve optimal chances of success. The expertise of Evotec’s scientists in multi-step focused library synthesis and medicinal chemistry as well as the quality of the communication and a consistent track record of delivering on agreed project milestones has made Evotec a key part of the drug discovery process within Solvay,” commented Prof Dr Chris Kruse, Discovery Program Manager, Solvay Pharmaceuticals.
“Evotec is delighted that Solvay has chosen to further extend our original agreement. In addition we are looking forward to collaborating with them on the new fragment-based drug discovery programme. We are confident that both these agreements will enable us to continue making significant contributions to Solvay’s drug discovery programmes,” said Dr Mark Ashton, Executive Vice President Business Development Services at Evotec.
About Evotec AG
Evotec is a leader in the discovery and development of novel small molecule drugs. Both through its own discovery programmes and through research collaborations, the Company is generating the highest quality research results to its partners in the pharmaceutical and biotechnology industries.
In proprietary projects, Evotec specialises in finding new treatments for diseases of the Central Nervous System. Evotec has three programmes in clinical development: EVT 201, a partial positive allosteric modulator (pPAM) of the GABAA receptor complex for the treatment of insomnia, EVT 101, a subtype selective NMDA receptor antagonist for the treatment of Alzheimer’s disease and/or pain, and EVT 302, a MAO-B inhibitor.
In research collaborations, Evotec has established itself as the partner of choice for pharmaceutical and biotechnology companies worldwide. The Company provides innovative and often integrated solutions from drug target to clinic through an unmatched range of capabilities, including early stage assay development and screening through to medicinal chemistry and drug manufacturing.
In 2005, Evotec has generated sales of EUR 80 million with 600 employees located in Hamburg, Germany and near Oxford and in Glasgow, UK.
About Solvay Pharmaceuticals
Solvay Pharmaceuticals is a research driven group of companies that constitute the global pharmaceutical business of the Solvay Group. The company seeks to fulfil carefully selected, unmet medical needs in the therapeutic areas of neuroscience, cardio-metabolic, influenza vaccines, gastroenterology, specialized markets and men’s and women’s health, employing some 10,000 people worldwide. For more information, visit www.solvaypharmaceuticals.com
- Contact Information
- Anne Hennecke
- Director, Investor Relations & Corporate Communications
- Evotec AG
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.