Evotec Receives Milestone From Boehringer Ingelheim in Strategic Alliance
Evotec AG recently announced that a back-up compound in its strategic alliance with Boehringer Ingelheim has advanced into a Phase I clinical trial. Evotec will receive a milestone payment of EUR 2.0 million. The compound, which was discovered and optimized within the alliance, is being developed as a novel treatment for neuropathic pain. The alliance has involved working on multiple high-priority targets across key therapeutic areas. To date, it has resulted in 13 milestone payments from multiple programs.
“New more effective treatments against pain are urgently needed,” said Dr. Werner Lanthaler, CEO of Evotec. “We continue to enjoy a rewarding partnership at both scientific and commercial levels with Boehringer Ingelheim.”
In 2004, Evotec entered into a multi-year, multi-target drug discovery collaboration with Boehringer Ingelheim to jointly identify and develop preclinical development candidates for the treatment of various disease areas, including CNS, inflammation, cardiometabolic, and respiratory diseases. In 2009, the collaboration was extended for an additional 4-year term and the scope expanded to include oncology targets. Under the terms of the agreement, Boehringer Ingelheim has full ownership and global responsibility for clinical development, manufacturing, and commercialization of the compounds identified. In return, Evotec receives ongoing research payments and preclinical milestones.
Furthermore, the contract provides substantial long-term upside for Evotec through potential payments for successful milestone achievements during clinical development and royalties when new drugs reach the market.
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies. The company operates worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic.
Total Page Views: 822
