Evotec Receives Research Milestone From Boehringer Ingelheim

Evotec has reported that a further research milestone, leading to payments to Evotec, has been successfully achieved in its drug discovery collaboration with Boehringer Ingelheim.

The milestone was achieved for the identification and selection of a second compound to be advanced into preclinical development within an existing program. This represents the sixth milestone achieved in this multi-year, multi-target collaboration.

In 2004, Evotec entered into a multi-year drug discovery collaboration with Boehringer Ingelheim, to jointly identify and develop preclinical development candidates for the treatment of various diseases.

Under the terms of the agreement, Boehringer Ingelheim has full ownership and global responsibility for clinical development, manufacturing and commercialization of the compounds identified.

Additionally, in return, Evotec receives ongoing research payments and preclinical milestones. Furthermore, the contract provides substantial long-term upside for Evotec through potential payments for successful milestone achievements during clinical development, and royalties when new drugs reach the market.

Werner Lanthaler, CEO of Evotec, said: It is great to see the scientific progress that top-class discovery alliance projects can bring. We are jointly progressing several projects with Boehringer Ingelheim at this stage, so we are optimistic to see further product progress soon.