Fragment-Based Drug Discovery Program Yields Results and Leads to Expansion
HAMBURG, Germany and OXFORD, England, March 6 /PRNewswire-FirstCall/ -- Evotec AG (Frankfurt Stock Exchange: EVT) today announced that InterMune, Inc., has signed a second drug discovery contract with Evotec.
Evotec will support InterMune's research efforts using their medicinal chemistry know-how. In addition, they will utilize their expertise and technologies in computational chemistry, protein production, X-Ray crystallography and ADMET to further characterize active compounds and optimize their potency and selectivity to generate lead molecules for subsequent progression into clinical trials.
This contract expands Evotec's existing collaboration with InterMune which was initiated in early 2007. This collaboration applies Evotec's fragment-based drug discovery platform, EVOlution(TM), in combination with their ultra-high-throughput screening (uHTS) technologies to InterMune's targets. To date new lead series have been identified for further optimization. Evotec also provides medicinal chemistry, secondary screening, protein production, X-ray crystallography and ADMET. The financial terms include a technology access fee for access to Evotec's fragment-based drug discovery platform, EVOlutionTM, plus ongoing research funding.
"With the support of Evotec, InterMune has made considerable progress in their Hepatitis C drug discovery and development program. We are pleased that InterMune saw the value in our proprietary fragment-based drug discovery technology and that it has contributed to the success to their research efforts," said Dr Mark Ashton, Executive Vice President Business Development Services at Evotec.
Forward looking statements
Information set forth in this report contains forward-looking statements, which involve a number of risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about the anticipated benefits of Evotec's products and services, the payments that Evotec may receive under its collaboration agreement with Intermune, the anticipated timing and results of Evotec's clinical and pre-clinical programs, and other statements that are not historical facts. Evotec cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information as a result of risks and uncertainties. These include risks and uncertainties relating to: Evotec's ability to complete the merger because conditions to the closing of the merger may not be satisfied; the failure to successfully integrate the businesses of Evotec and Renovis; unexpected costs or liabilities resulting from the merger; the risk that synergies from the merger may not be fully realized or may take longer to realize than expected; disruption from the merger making it more difficult to maintain relationships with customers, employees or suppliers; competition and its effect on pricing, spending, third-party relationships and revenues; the need to develop new products and adapt to significant technological change; implementation of strategies for improving internal growth; development, use and protection of intellectual property; general worldwide economic conditions and related uncertainties; future legislative, regulatory, or tax changes as well as other economic, business and/or competitive factors; and the effect of exchange rate fluctuations on international operations.
The risks included above are not exhaustive. The Registration Statement
on Form F-4 filed by Evotec with the Securities and Exchange Commission
contains additional factors that could impact the combined company's
businesses and financial performance. The parties expressly disclaim any
obligation or undertaking to release publicly any updates or revisions to
any such statements to reflect any change in the parties' expectations or
any change in events, conditions or circumstances on which any such
statement is based.
SVP, Investor Relations & Corporate Communications
|SOURCE Evotec AG|
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