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news.Drug discovery company Evotec has reported faster than expected progress on its development of G-protein coupled receptors in partnership with Boehringer Ingelheim. The progress has resulted in the attainment of the first milestone payment despite the alliance being in place for less than a year.
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The payment was granted for the identification of a number of lead series for a priority target of this collaboration. Further projects within the multi-target three year collaboration are progressing on schedule, Evotec said in a release. The company added that more milestone payments could be achieved dependent on further progress. Financial details of the payment were not disclosed.
Professor Mikael Dolsten, head of research/discovery at Boehringer Ingelheim, said: “The basis for this first milestone achievement was both the excellent drug discovery performance and the good collaboration spirit between the Boehringer Ingelheim and Evotec scientists. We anticipate valuable results from this collaboration.”