DGAP-News: Evotec AG / Key word(s): Alliance
2016-09-21 / 07:29
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
- Multi-target alliance translating first-in-class science and drug
discovery into investigational new drugs (INDs)
- Performance-based incentive structure with milestone potential above EUR
300 m and tiered royalties
Hamburg, Germany, 21 September 2016:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) today
announced that Evotec and Bayer have entered into a five-year, multi-target
research partnership. The goal is the development of multiple clinical
candidates for the treatment of kidney diseases such as chronic kidney
disease in diabetes patients. Both companies will contribute novel drug
targets and a comprehensive set of high-quality technology platforms to
jointly develop innovative treatment options for these severe conditions.
The partners will share responsibilities during pre-clinical development of
potential clinical candidates.
"Chronic kidney disease is a severe medical condition with insufficient
treatment options for patients. This new research alliance with Evotec will
perfectly complement Bayer's current research activities in this area of
high unmet medical need", said Professor Andreas Busch, member of the
Executive Committee of Bayer AG's Pharmaceuticals Division and Head of Drug
Discovery. "Evotec is already a strong partner of ours, and we look forward
to continuing the relationship to develop novel drug candidates for the
benefit of patients."
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "This
research alliance will particularly target chronic kidney diseases, which
are the leading cause of end-stage renal disease. Currently, patients with
end-stage renal disease face dialysis or kidney transplantation as the only
available treatment options. There are no effective treatments that can
significantly slow or reverse disease progression. We are very proud and
excited to expand our efforts in kidney diseases together with Bayer in
this area of enormous unmet medical need."
Under the terms of the agreement, Bayer will receive exclusive access to
selected candidates as well as to Evotec's CureNephron target pipeline.
Bayer will be responsible for any subsequent clinical development and
commercialisation. Evotec will receive a minimum of EUR 14 m over the
contract period including research payments and an undisclosed licence fee.
In addition, Evotec is eligible to receive pre-clinical, clinical and sales
milestones of potentially over EUR 300 m as well as tiered royalties of up
to low double-digit percentage of net sales.
In 2012, Bayer and Evotec already entered into a five-year partnership in
the therapeutic area of endometriosis. Currently in its fourth year, this
alliance has delivered four pre-clinical candidates and one first-in-class
clinical programme has been initiated.
ABOUT KIDNEY DISEASES
Chronic kidney disease ("CKD") is a progressive loss of function over
several months to years, characterised by gradual replacement of normal
kidney architecture (nephrons) with interstitial fibrosis. The progressive
destruction of nephrons causes a decreased glomerular filtration rate,
which very often leads to end-stage renal disease ("ESRD") requiring
dialysis treatment or kidney transplantations. The main causes underlying
chronic kidney disease are: diabetes, high blood pressure and
glomerulonephritis. Diabetic kidney disease ("DKD"), globally the most
common cause of ESRD, is caused by metabolic and hemodynamic changes of
type 1 or type 2 diabetes mellitus.
ABOUT CURENEPHRON
CureNephron is a joint initiative in the field of kidney disease between
Evotec and Harvard University, Brigham and Women's Hospital and University
of Southern California. The initiative has been initiated in 2012 and
underlines the value of Evotec's academic bridge model, which translates
excellent science from academic institutions to Pharma. Within CureNephron,
systematic and unbiased approaches are pursued towards the identification
of kidney disease relevant mechanisms with particular interest in
mechanisms with disease-modifying potential. CureNephron is designed to
deliver and exploit novel therapeutic targets as well as biomarkers that
allow more accurate diagnosis, monitoring and treatment of chronic and
acute kidney disease.
ABOUT BAYER
Bayer is a global enterprise with core competencies in the Life Science
fields of health care and agriculture. Its products and services are
designed to benefit people and improve their quality of life. At the same
time, the Group aims to create value through innovation, growth and high
earning power. Bayer is committed to the principles of sustainable
development and to its social and ethical responsibilities as a corporate
citizen. In fiscal 2015, the Group employed around 117,000 people and had
sales of EUR 46.3 billion. Capital expenditures amounted to EUR 2.6
billion, R&D expenses to EUR 4.3 billion. These figures include those for
the high-tech polymers business, which was floated on the stock market as
an independent company named Covestro on October 6, 2015. For more
information, go to www.bayer.com.
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company
focused on rapidly progressing innovative product approaches with leading
pharmaceutical and biotechnology companies, academics, patient advocacy
groups and venture capitalists. We operate worldwide providing the highest
quality stand-alone and integrated drug discovery solutions, covering all
activities from target-to-clinic to meet the industry's need for innovation
and efficiency in drug discovery (EVT Execute). The Company has established
a unique position by assembling top-class scientific experts and
integrating state-of-the-art technologies as well as substantial experience
and expertise in key therapeutic areas including neuroscience, diabetes and
complications of diabetes, pain and inflammation, oncology and infectious
diseases. On this basis, Evotec has built a broad and deep pipeline of more
than 70 partnered product opportunities at clinical, pre-clinical and
discovery stages (EVT Innovate). Evotec has established multiple long-term
discovery alliances with partners including Bayer, CHDI, Sanofi or UCB and
development partnerships with e.g. Janssen Pharmaceuticals in the field of
Alzheimer's disease, with Sanofi in the field of diabetes and with Pfizer
in the field of tissue fibrosis. For additional information please go to
www.evotec.com.
FORWARD LOOKING STATEMENTS
Information set forth in this press release contains forward-looking
statements, which involve a number of risks and uncertainties. The
forward-looking statements contained herein represent the judgement of
Evotec as of the date of this press release. Such forward-looking
statements are neither promises nor guarantees, but are subject to a
variety of risks and uncertainties, many of which are beyond our control,
and which could cause actual results to differ materially from those
contemplated in these forward-looking statements. We expressly disclaim any
obligation or undertaking to release publicly any updates or revisions to
any such statements to reflect any change in our expectations or any change
in events, conditions or circumstances on which any such statement is
based.
Contact Evotec AG:
Gabriele Hansen, VP Corporate Communications & Investor Relations, Phone:
+49.(0)40.56081-255, gabriele.hansen@evotec.com
---------------------------------------------------------------------------
2016-09-21 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Evotec AG
Manfred Eigen Campus / Essener Bogen 7
22419 Hamburg
Germany
Phone: +49 (0)40 560 81-0
Fax: +49 (0)40 560 81-222
E-mail: info@evotec.com
Internet: www.evotec.com
ISIN: DE0005664809
WKN: 566480
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service