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news.Evotec has achieved EUR0.5m milestone payment under the license and collaboration agreement with MedImmune, the global biologics arm of AstraZeneca.
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The milestone expands the diabetes and beta cell regeneration collaboration until 2013 besides generating a commercial license granted to MedImmune.
According to the agreement signed between the companies in December 2010, MedImmune has access to a set of biologic targets with the potential to prevent or reverse disease progression in patients suffering from diabetis.
Evotec chief scientific officer Dr Cord Dohrmann said, "Together with our colleagues at MedImmune and AstraZeneca we have been highly productive in driving forward the development of EVT770 as well as additional molecules in the portfolio."
The joint research team size has increased and Evotec will obtain further research payments supporting in vitro and in vivo studies.
Evotec, which earned EUR5m upfront payment under the terms of the original deal, is eligible to earn approximately EUR254m as further milestones and payments in addition to sales based royalties.
MedImmune cardiovascular and metabolic disease center of excellence vice president and head Dr Cristina Rondinone said, "Diabetes has reached epidemic levels and it is one of the biggest causes of mortality worldwide. Therefore, it is critical that we develop novel and highly effective therapies to slow down and ultimately stop the development of diabetes."