Evotec receives Milestone as Boehringer Ingelheim starts Phase I clinical trial in Pain

Tuesday, 31. May 2011 07:32
Evotec AG /
Evotec receives Milestone as Boehringer Ingelheim starts Phase I clinical trial
in Pain
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.

Hamburg, Germany - 31 May 2010: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX) today 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 optimised 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. So far it has resulted in 13 milestone payments from multiple
Dr Werner Lanthaler, CEO of Evotec, added: "New more effective treatments
against pain are urgently needed.  We continue to enjoy a rewarding partnership
at both scientific and commercial levels with Boehringer Ingelheim"
About the Collaboration
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 years 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 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 Neuropathic pain
Neuropathic pain is a type of pain which is caused by damage to or dysfunction
of the nervous system. There is often no 'injury' or tissue damage that triggers
the pain. However, the function of the nerve is affected in a way that it sends
pain messages to the brain. Neuropathic pain is often described as burning,
stabbing, shooting, aching, or like an 'electric-shock'. According to the Pain
journal (Bouhassira et al, 2008), as much as 7% to 8% of the world's population
is affected. Furthermore, it was noted in the same journal (Dworkin et al,
2007) that neuropathic pain can be very difficult to treat with only some
40-60% of patients achieving partial relief.

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

--- 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:

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

Related Links: Evotec SE
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.