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news.Evotec AG has reported that the second milestone has been achieved in its four-year Alzheimer's disease focused drug discovery collaboration with Japan's Takeda Pharmaceutical Company.
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Evotec has granted Takeda exclusive rights to a novel target in Alzheimer’s disease based on successful target identification and validation work triggering a milestone payment of over one million Euros.
Evotec is eligible for substantial future milestone payments on the successful clinical development of compounds acting on the selected target. The collaboration is progressing into the fourth year and Evotec is entitled to further milestone payments should Takeda select additional targets from Evotec’s target database.
Dr John Kemp, Executive vice president R&D at Evotec, commented: “We are extremely proud that we have reached our second project milestone with Takeda. Over the past three years we have made excellent progress in building substantial expertise and IP around novel Alzheimer’s disease targets. The relationship with Takeda is very productive and we are looking forward to jointly leveraging our innovative Alzheimer’s disease toolbox during the years to come.”
Total payments to Evotec in the collaboration will reach up to E20 million covering access fees to Evotec’s proprietary database of Alzheimer’s disease-related targets, research funding and success based milestone payments relating to the selection of targets for further drug discovery. Additional substantial milestones would also be payable on the successful clinical development of compounds acting on selected targets. Further financial details of the collaboration are not disclosed.