Evotec Wins Research Grant From German Government

Evotec has been granted up to E2.5m in research funds from the BMBF, within the Neu2 consortium, to advance research and development activities on the target Serine Racemase for potential use in neuroprotection.

Evotec will use its drug discovery platform and expertise in progressing this program towards the clinic, particularly making use of its compound library and proprietary fragment-based drug discovery platform.

Klaus Maleck, chief financial officer of Evotec, said: “Evotec is pleased to work on identifying new drugs against neurodegenerative diseases within this consortium. At the same time, this grant represents a valuable alternative to financing our research without jeopardising our patent position. The work has the potential to make major improvements to the quality of life of the patient and can have considerable, non-dilutive impact on our investment case.”