Evotec licenses Phase II insomnia candidate to Jingxin Pharma for development in China

Thursday, 28. October 2010 07:39
Evotec AG /
Evotec licenses Phase II insomnia candidate to Jingxin Pharma for development in
China
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Hamburg, Germany - 28 October 2010: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX) today announced that it has entered into a license and collaboration
agreement with Zhejiang Jingxin Pharmaceutical Co., Ltd ("Jingxin Pharma") for
EVT 201, a novel potential treatment for insomnia. The agreement grants Jingxin
Pharma exclusive rights to develop and market the drug candidate in China. In
return, Evotec will receive a small upfront payment, together with commercial
milestones and significant royalties.

Jingxin Pharma will initiate clinical trials with EVT 201 in China in 2011. All
development costs will be borne by Jingxin Pharma. Evotec will have the right to
reference clinical data produced by Jingxin Pharma to support potential further
development of EVT 201 in other territories.

Mr. Lu Gang, Chairman of the Board and General Manager of Jingxin Pharma, said:
"Although certain aspects of insomnia are addressed by current treatments, high
unmet medical needs remain for patients suffering from sleep problems. In two
Phase II clinical trials Evotec has demonstrated that EVT 201 potentially offers
advantages to existing insomnia agents. We are encouraged to further reveal the
potential of this programme to the benefit of patients that are not adequately
treated."

Dr Werner Lanthaler, Chief Executive Officer of Evotec AG, commented: "Jingxin
Pharma is an enthusiastic partner keen to develop EVT 201 for China as the major
emerging pharmaceutical market. This deal allows finally the further progression
of Evotec´s insomnia programme and therefore represents an important step in
realising the drug candidate's intrinsic value."

About EVT 201
EVT 201 represents a potential "best in class" treatment for insomnia. Evotec
has conducted two Phase II trials of EVT 201 in adult and elderly primary
insomnia patients. Both trials demonstrated that treatment with EVT 201 produces
large improvements in sleep onset and maintenance measures. In the trial in
elderly patients EVT 201 was also objectively demonstrated to have a next-day
benefit, namely a reduction of daytime sleepiness

Contact: Dr Werner Lanthaler, Chief Executive Officer,
Evotec AG, Tel.: +49.(0)40.56081-242, werner.lanthaler@evotec.com


Forward-Looking Statements - Information set forth in this press release
contains forward-looking statements, which involve a number of risks and
uncertainties. Such forward-looking statements include, but are not limited to,
statements about our 2010 financial outlook and our expected financial results
in future quarters, our revised revenue guidance for 2010 and expected revenue
growth, our ability to deliver on our liquidity guidance, our belief that we are
on course to sustainable profitability latest in 2012, our expectations and
assumptions concerning regulatory, clinical and business strategies, the
progress of our clinical development programmes and timing of the commencement
and results of our clinical trials, strategic collaborations and management's
plans, objectives and strategies. These statements are neither promises nor
guarantees, but are subject to a variety of risks and uncertainties, many of
which are beyond our control, and which could cause actual results to differ
materially from those contemplated in these forward-looking statements. In
particular, the risks and uncertainties include, among other things: risks that
product candidates may fail in the clinic or may not be successfully marketed or
manufactured; the risk that we will not achieve the anticipated benefits of our
collaborations, partnerships and acquisitions in the timeframes expected, or at
all; risks relating to our ability to advance the development of product
candidates currently in the pipeline or in clinical trials; our inability to
further identify, develop and achieve commercial success for new products and
technologies; the risk that competing products may be more successful; our
inability to interest potential partners in our technologies and products; our
inability to achieve commercial success for our products and technologies; our
inability to protect our intellectual property and the cost of enforcing or
defending our intellectual property rights; our failure to comply with
regulations relating to our products and product candidates, including FDA
requirements; the risk that the FDA may interpret the results of our studies
differently than we have; the risk that clinical trials may not result in
marketable products; the risk that we may be unable to successfully secure
regulatory approval of and market our drug candidates; and risks of new,
changing and competitive technologies and regulations in the U.S. and
internationally.The list of risks above is not exhaustive. Our most recent
Annual Report on Form 20-F, filed with the Securities and Exchange Commission,
and other documents filed with, or furnished to the Securities and Exchange
Commission, contain additional factors that could impact our businesses and
financial performance. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any such statements to reflect any
change in our expectations or any change in events, conditions or circumstances
on which any such statement is based.



[HUG#1456203]



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Evotec AG
Schnackenburgallee 114 Hamburg Germany

WKN: 566480;ISIN: DE0005664809;
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Author:
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