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news.Evotec has received a milestone payment of EUR2m from Boehringer Ingelheim, following the advancement of a back-up compound into a Phase I clinical trial under a multi-year, multi-target drug discovery collaboration.
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The milestone triggers from the initiation of a Phase I clinical trial of an experimental compound by Boehringer Ingelheim for the treatment neuropathic pain.
Previously, Evotec had entered into the 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.
The tie up allows Boehringer Ingelheim for the full ownership and global responsibility for clinical development, manufacturing and commercialisation of the compounds identified.
Evotec CEO Werner Lanthaler said they continue to enjoy a rewarding partnership at both scientific and commercial levels with Boehringer Ingelheim.