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

Monday, 09. May 2011 07:28
Evotec AG /
Evotec Receives Twelfth Milestone Payment as Part of its Discovery Alliance
with Boehringer Ingelheim
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Hamburg, Germany - 9 May 2011: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX)
today announced that its research alliance with Boehringer Ingelheim has
achieved a twelfth milestone triggering a payment of EUR 2.0 million to Evotec.
The milestone reached was on the transition of an oncology programme into lead
Dr Mario Polywka, Chief Operating Officer of Evotec commented: "This is the
twelfth milestone achieved as part of this alliance with Boehringer Ingelheim
and the third against an oncology target.  We are now in our eighth year of this
collaboration and this milestone again validates the strength of the joint
Evotec -Boehringer research groups as they drive new drug candidates to the

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.
Contact Evotec AG:
Dr Werner Lanthaler, Chief Executive Officer, Phone:
Forward-Looking Statements: Information set forth in this press release contains
forward-looking statements, which involve a number of risks and uncertainties.
The forward-looking statements contained herein represent the judgement of
Evotec as of the date of this report. Such forward-looking 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. 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.

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Evotec AG
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