Evotec Receives 4th Milestone Payment in 2011
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Evotec AG has announced that its research alliance with Boehringer Ingelheim has achieved a milestone triggering a payment of EUR 2.5 million to Evotec.
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 programme.
This is the fourth milestone achieved in 2011 and represents a total of EUR 10.5 million of milestones achieved within the year.
Dr Mario Polywka, Chief Operating Officer of Evotec commented: "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."
