Evotec AG:Ad hoc:Evotec and Roche agree to develop compound that could slow the progression of Alzheimer's disease

Monday, 05. September 2011 19:57
Evotec AG /
/
Ad hoc:Evotec and Roche agree to develop compound that could slow the
progression of Alzheimer's disease
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Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange, TecDAX, ISIN: DE
000 566480 9) and Roche AG (SIX: RO, ROG; OTCQX: RHHBY) today announced that
they have entered into an exclusive world-wide license agreement for the
development and commercialisation of Evotec's MAO-B inhibitor to treat
Alzheimer's disease (AD).


Under the terms of the agreement, Roche will pay Evotec an upfront fee of $10
million. Evotec could receive further development and commercial milestone
payments of up to $820 million as well as tiered double-digit royalties on
sales. Roche will initiate studies in 2012 to demonstrate proof of concept and
will be responsible for all clinical development, manufacturing and
commercialization activities.

Evotec changes its revenue guidance for 2011 from €70-72 m to €77-79 m and
increases its 2011 year-end liquidity target to above € 60 m.

Contact: Dr Werner Lanthaler, Chief Executive Officer, Evotec AG,
Schnackenburgallee 114, 22525 Hamburg, Germany, Phone: +49.(0)40.560 81-242,
werner.lanthaler@evotec.com

--- End of Message ---

Evotec AG
Schnackenburgallee 114 Hamburg Germany

WKN: 566480;ISIN: DE0005664809;
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Author:
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