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European Centre for Modern Drug Discovery Established in Hamburg
Date:9/3/2007

HAMBURG, Germany, September 3 /PRNewswire-FirstCall/ -- Hamburg is on its way to becoming a leading hub of Europe's academic drug discovery, with the northern German city's town hall today announcing the foundation of European ScreeningPort GmbH, a company that will run a state-of-the-art drug discovery service centre. European ScreeningPort is being established with the support of the German Federal Ministry of Education and Research, the Free and Hanseatic City of Hamburg, Evotec AG and Norgenta, the north German life science agency. Although still in an early phase, the project has already raised more than EUR 7 million in financing.

Hamburg's new European ScreeningPort will build upon research results generated in academia. It will enable a more systematic and efficient search for promising new compounds which can subsequently be further developed. Both Evotec AG and the City of Hamburg have invested into the newly founded company, which will be run as a public private partnership. This novel concept in advancing drug discovery will also be supported with considerable funds from the German Federal Ministry of Education and Research.

ScreeningPort provides the missing link in Europe between academic research and the pharmaceutical industry. The research centre will accelerate translating promising results generated in basic research on the causes of diseases into new therapeutics. ScreeningPort will act as a service provider that enables academic research institutes to access its state-of-the-art technology, its vast amount of chemical compounds as well as its sample and data processing capabilities. New therapeutic concepts developed at universities can, in future, undergo the same standardised, more efficient and thus more cost-effective development processes that have, until now, been available only to industry. Pharmaceutical and biotech companies, for their part, can benefit from the research results generated at ScreeningPort and thus com
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SOURCE Evotec AG
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