Evotec receives fourth milestone payment from Boehringer

This is the fourth milestone achieved in 2011 and represents a total of EUR 10.5m of milestones achieved within the year, the company said.

The milestone was achieved for the identification and selection of a compound to be advanced into extended profiling prior to pre-clinical development within an oncology program.

Evotec chief operating officer Mario Polywka said this is the fifth milestone achieved against an oncology target within our collaboration with Boehringer Ingelheim.

"Evotec values this collaboration very highly and both companies continue to enjoy a fruitful scientific and working relationship as we drive important new drug candidates to the clinic," Polywka added.