Evotec Receives a Milestone Payment as Part of its Discovery Alliance with Boehringer Ingelheim

Thursday, 13. January 2011 07:41
Evotec AG /
Evotec Receives a Milestone Payment as Part of its Discovery Alliance with
Boehringer Ingelheim
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Hamburg, Germany - 13 January 2011: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX) today announced that its research alliance with Boehringer Ingelheim has
reached a milestone triggering a payment of EUR 2.0 million to Evotec. The
milestone reached was on the transition of an oncology programme into lead
optimisation.

Dr Mario Polywka, Chief Operating Officer of Evotec commented: "This is the
eleventh milestone achieved as part of this alliance with Boehringer Ingelheim
and the second against an oncology target.  We continue to enjoy a very rich
scientific partnership with Boehringer Ingelheim and look forward to continued
success through our joint project teams in the coming years".

About the Evotec & Boehringer Ingelheim alliance
In 2004, Evotec entered into a multi-year, multi-target drug discovery alliance
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 four years 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 commercialisation 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.


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 industrialised 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 and inflammation. 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. For additional information please go
towww.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 expected 2010 financial results and financial growth in 2011, our
anticipated financing needs, 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.

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

--- End of Message ---

Evotec AG
Schnackenburgallee 114 Hamburg Germany

WKN: 566480;ISIN: DE0005664809;
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Pdf of Press Release:
http://hugin.info/131215/R/1479374/415071.pdf




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