Evotec announces metabolic disease alliance with MedImmune

Wednesday, 15. December 2010 12:11
Evotec AG /
Evotec announces metabolic disease alliance with MedImmune
Processed and transmitted by Thomson Reuters.
The issuer is solely responsible for the content of this announcement.

·         Focus on innovative diabetes therapy

·         € 5 million upfront payment, up to € 254 million milestones and
royalties

·         Evotec's first commercial agreement in the field of beta cell
regeneration

Hamburg, Germany - 15 December 2010: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX) today announced that via its subsidiary Develogen AG it has entered into
a license and collaboration agreement with MedImmune (the global biologics unit
of AstraZeneca), in the diabetes therapeutic area, with a particular focus on
the regeneration of insulin producing beta cells.  The license gives MedImmune
exclusive access to a portfolio of research programs and represents the first
deal executed by Evotec on beta cell regeneration assets and capabilities.

The agreement triggers an upfront payment of € 5 million.  Further on,
additional deferred payments including potential milestone payments of up to €
254 million as well as royalties are agreed.  The milestone payments will be due
upon achievement of certain clinical as well as regulatory and commercial
events.  Further milestone payments may be achieved with the approval of
additional indications and programs.  Evotec will also receive research payments
to support further in vivo and in vitro pharmacology efforts conducted in
collaboration with MedImmune.

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "The loss of
insulin producing beta cells is tightly linked to the development of diabetes.
 Using a unique screening approach for beta cell regeneration targets, we have
identified and validated novel and highly relevant biological factors.  The most
advanced factor has demonstrated efficacy in animal models of beta cell
regeneration in particular increasing the functional beta cell mass and thereby
improving and restoring glycemic control."  Dr. Dohrmann continued: "MedImmune
is a leader in biopharmaceutical research with cutting edge protein production
and engineering capabilities and thus a perfect partner for Evotec.  Together we
intend to generate a pipeline of biological factors that have the potential to
prevent or reverse disease progression, and confer optimal glycemic control in
patients. "

Given the innovative character of the alliance Evotec invites you to join a
brief conference call.

Details of the Conference Call:


Wednesday, 15 December 2010 at
16.30 p.m. CEST
15.30 p.m. BST/10.30 a.m. US Time (East Coast)

Dial-in Numbers:
Europe:
+49 (0)69 2222 2246 (Germany)
+44 (0)20 7138 0836 (UK)
US: +1 718 354 1172

Pass Code:  5734705

A simultaneous slide presentation for participants dialing in via phone is
available at www.equitystory.com , password: evotec1210.
You can also listen to the conference call via audio webcast including
presentation slides atwww.evotec.com.

If you are unable to attend, a recording will be available for 24 hours after
the call at the following phone numbers: +49.(0)69.2222 2236 (Germany),
+44.(0)20.7111 1244 (UK), +1.347.366 9565 (US). The access code is 5734705#. The
on-demand version of the webcast will be available on our website:
www.evotec.com - Investors/Events/Financial Calendar.

ABOUT Evotec AG
Evotec is a leader in the discovery and development of novel small molecule
drugs with operational sites in Europe and Asia. The Company has built
substantial drug discovery expertise and an industrialized platform that can
drive new innovative small molecule compounds into the clinic. In addition,
Evotec has built a deep internal knowledge base in the treatment of diseases
related to neuroscience, pain, oncology, inflammation and metabolic diseases.
Leveraging these skills and expertise the Company intends to develop best-in-
class differentiated therapeutics and deliver superior science-driven discovery
alliances with pharmaceutical and biotechnology companies. Evotec has long-term
discovery alliances with partners including Boehringer Ingelheim, CHDI,
Genentech, Novartis, Ono Pharmaceutical and Roche. Evotec has product candidates
in clinical development and a series of preclinical compounds and development
partnerships, including for example a strategic alliance with Roche for the EVT
100 compound family, subtype selective NMDA receptor antagonists for use in
treatment-resistant depression and an alliance in the field of diabetes with
Andromeda (Teva). For additional information please go towww.evotec.com.

ABOUT DEVELOGEN
DeveloGen AG, Göttingen, Germany, is a biopharmaceutical company engaged in the
research and development of metabolic diseases. Since September 2010 DeveloGen
AG is part of the Evotec group of companies with 99.4% of the outstanding
capital acquired by Evotec AG. Under the terms of the acquisition, Evotec AG
owes, amongst others, a portion of any upfront, milestone and royalty payments
of certain agreements (including the agreement relating to beta cell
regeneration assets) entered into by DeveloGen AG as deferred purchase
consideration. This agreement also triggers a further share consideration of
1,398,561 shares held in escrow.

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.











--- End of Message ---

Evotec AG
Schnackenburgallee 114 Hamburg Germany

WKN: 566480;ISIN: DE0005664809;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Freiverkehr in Niedersächsische Börse zu Hannover,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;


Pdf of Pressrelease:
http://hugin.info/131215/R/1472671/409329.pdf




This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Evotec AG via Thomson Reuters ONE

[HUG#1472671]
Related Links: Evotec SE
Author:
Hugin
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.