The milestone was for the transition of a pain molecule into pre-clinical development.
Dr Mario Polywka, Chief Operating Officer of Evotec commented: “This is the eighteenth milestone achieved as part of our alliance with Boehringer Ingelheim and represents an important transition of a compound into pre-clinical development. We are pleased the collaborative efforts of teams from Evotec and Boehringer Ingelheim continue to drive value for both our organisations.”
ABOUT THE EVOTEC & BOEHRINGER INGELHEIM ALLIANCE
In 2004, Evotec entered into a multi-year, multi-target drug discovery alliance with Boehringer Ingelheim to jointly identify and develop pre-clinical 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 four years 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 commercialisation of the compounds identified. In return, Evotec receives ongoing research payments and pre-clinical 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.