Evotec has achieved another milestone in its research collaboration with Boehringer Ingelheim. The achievement of the current milestone has led to a payment of E2.5m to Evotec, related to the selection of a candidate compound for pre-development studies in a cardiometabolic program.
Reportedly, 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 will have full ownership and global responsibility for clinical development, manufacturing and commercialisation of the compounds identified. In return, Evotec receives ongoing research payments and preclinical milestones.
Werner Lanthaler, CEO of Evotec, said: “We are extremely pleased that we have achieved another milestone in our alliance with Boehringer Ingelheim. This is the second milestone that we have achieved in 2009 and further demonstrates the success of our collaboration. We are looking forward to continuing our collaboration into 2010 and beyond and achieving further milestones as we progress several projects towards the clinic.”