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news.Evotec, a developer of small molecule drugs, has announced that two further research milestones, leading to total payments to Evotec of E6 million, have been successfully achieved in its drug discovery collaboration with Boehringer Ingelheim.
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One milestone was achieved for the start of lead optimization for a specific target. This means that for the third time within this collaboration, a program has been advanced into lead optimization.
The second milestone was achieved in a separate program for the selection of a compound by Boehringer Ingelheim for preclinical development. Boehringer Ingelheim will assume responsibility for the preclinical development of the candidate compound identified and Evotec will be entitled to receive additional milestones plus royalties depending on the compound’s progress through clinical development.
John Kemp, chief R&D officer of Evotec, said: “We are very proud of the success achieved in our collaboration with Boehringer Ingelheim during 2008. We have jointly progressed several projects and advanced the first compound into preclinical development. Further projects are progressing and we will continue to work closely with Boehringer Ingelheim to develop further preclinical development candidates within our collaborative projects.”