Evotec AG has announced that a back-up compound in its strategic alliance with Boehringer Ingelheim has advanced into a Phase I clinical trial. 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.
The alliance has involved working on multiple high priority targets across key therapeutic areas. So far it has resulted in 13 milestone payments from multiple programmes.
Dr Werner Lanthaler, CEO of Evotec, added: “New more effective treatments against pain are urgently needed. We continue to enjoy a rewarding partnership at both scientific and commercial levels with Boehringer Ingelheim”
About the Collaboration
In 2004, Evotec entered into a multi-year, multi-target drug discovery collaboration with Boehringer Ingelheim to jointly identify and develop preclinical development candidates for the treatment of various disease areas including CNS, inflammation, cardiometabolic and respiratory diseases.
In 2009, the collaboration was extended for an additional 4 years term and the scope expanded to include oncology targets. Under the terms of the agreement, Boehringer Ingelheim has full ownership and global responsibility for clinical development, manufacturing and commercialization of the compounds identified.
In return, Evotec receives ongoing research payments and preclinical milestones. Furthermore, the contract provides substantial long-term upside for Evotec through potential payments for successful milestone achievements during clinical development and royalties when new drugs reach the market.