Evotec announces compound in strategic alliance with Boehringer Ingelheim advances into clinical trials

Evotec AG (Frankfurt:EVT) (TecDAX) today announced that a compound in its strategic alliance with Boehringer Ingelheim has advanced into clinical trials. With the initiation of the Phase I clinical studies for this compound, Evotec will receive a milestone payment of EUR 2.0 million.  The compound, which was discovered and optimised within the alliance, is being developed as a novel treatment for neuropathic pain, a disease caused by damage or dysfunction of the nervous system and affecting up to 7-8% of the world's population.

The alliance has involved working on multiple high priority targets across key therapeutic areas and has recently been expanded for four further years to include oncology.  So far it has resulted in eight milestone payments from multiple programmes.

Dr Werner Lanthaler, Chief Executive Officer of Evotec, added: "This clearly validates our strategy of creating value for our partners and further emphasises our expertise in providing most efficient integrated drug discovery solutions for our collaborators.  We are looking forward to advancing other exciting projects towards the clinic as part of this innovative alliance."     

Source EVOTEC AG