Ono Enters into a New Fragment-Based Drug Discovery Agreement w... ( Up to Three-Year Integrated ...)

Ono Enters into a New Fragment-Based Drug Discovery Agreement with Evotec

Date:3/27/2008

Up to Three-Year Integrated Drug Discovery Support Program

HAMBURG, Germany and OXFORD, England, March 27 /PRNewswire-FirstCall/ -- Evotec AG (Frankfurt Stock Exchange: EVT) announced today that the Company and Ono Pharmaceutical Co., Ltd. (Osaka, Japan) signed a new drug discovery agreement targeting a protease chosen by Ono.

The collaboration applies Evotec's proprietary fragment-based drug discovery platform, EVOlution(TM) to identify novel, small molecular weight compounds active against a protease target. The platform integrates, among other things, protein X-ray crystallography, computational chemistry, structural biology, biochemical, and NMR based fragment screening in combination with its high-quality fragment libraries. In the collaboration it is combined with Evotec's expertise in medicinal chemistry and ADMET to further characterize active compounds identified and optimize their potency and selectivity to generate molecules for subsequent progression into clinical trials.

Under the agreement, Ono will pay to Evotec initial payments (technology access fee) for access to Evotec's fragment-based drug discovery platform, EVOlution(TM), research funding as well as success-based milestones based on the research progress.

Dr Mark Ashton, Executive Vice President Business Development Services at Evotec, said: "We are extremely pleased that Evotec's capabilities in drug discovery and, in particular, our proprietary EVOlution(TM) platform for fragment-based drug discovery, have been so highly regarded by Ono and that they have chosen us as their partner for this collaboration. We are confident that Evotec will contribute to Ono's drug discovery program."

"We have the highest regards for the wide range of drug discovery technologies Evotec possesses and highly anticipate the collaboration will result in identifying a novel drug having high potentials," said Daikichi Fukushima, Ph.D., Managing Director, Research Headqua
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Ono Enters into a New Fragment-Based Drug Discovery Agreement w...( Up to Three-Year Integrated ...),Health