Selection of candidate in oncology programme triggers EUR 2.5 million milestone payment to Evotec

Evotec AG (Frankfurt:EVT) (TecDAX) today announced that it has achieved a milestone as part of its research alliance with Boehringer Ingelheim and will receive a payment of EUR 2.5 million. The milestone was achieved for the selection of a candidate compound for pre-development studies in an oncology programme.

Dr Werner Lanthaler, Chief Executive Officer of Evotec commented: "We are particularly pleased about achieving this milestone in the oncology programme, as the alliance was only expanded to this therapeutic area in late 2009. We are very proud of the high value we continue to bring to Boehringer Ingelheim's research efforts and the ongoing fruitful relationship between the research teams from both companies."