DGAP-News: Evotec AG / Key word(s): Miscellaneous
2016-06-29 / 07:29
The issuer is solely responsible for the content of this announcement.
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Hamburg, Germany, 29 June 2016:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809)
announced today that the investment company Ellersbrook GmbH & Co. KG,
("Ellersbrook"), Germany, will invest into Evotec's internal TargetNASH
programme. Ellersbrook is a life science focused investment firm owned by
Dr Herbert Stadler, a renowned biotech entrepreneur.
This agreement marks a logical extension of Evotec's EVT Innovate business
segment which is based on proprietary drug discovery programmes in
first-in-class approaches which are designed to form the basis of strategic
Pharma partnerships or spin-out companies. Ellersbrook and Evotec jointly
commit more than EUR 5 m in funding for an initial period of up to three
years. In this joint investment, Evotec is contributing a well-defined Cure
X/Target X programme (TargetNASH) and designs and executes the business
plan in cooperation with Ellersbrook. The goal is to accelerate TargetNASH
projects during an incubator period to tangible value points which will
form the basis of either an independently financed spin-off company or a
strategic Pharma partnership.
TargetNASH is a highly systematic approach to non-alcoholic steatohepatitis
(NASH) identifying novel mechanisms and targets with the potential to lead
to disease-modifying therapies. Non-alcoholic fatty liver disease is the
most common chronic liver disease in the world affecting up to 30% of the
adult population and represents the major cause for NASH. There is
currently no approved pharmacological therapy on the market. TargetNASH
pursues a portfolio of highly innovative targets with the goal to target
different stages of the disease.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are
proud to count one of Europe's most successful biotech entrepreneurs as one
of our partners. We are pursuing a new model where venture capital can
invest into virtual biotech companies at a pre-seed stage. The model is
probably the most capital-efficient way to progress early-stage projects to
significant value inflection points with the flexibility to subsequently
enter into strategic Pharma partnership or create independently financed
spin-off companies."
Dr Herbert Stadler, owner of Ellersbrook GmbH & Co. KG, added: "Evotec is
the gold standard in pre-clinical stage drug discovery and provides very
exciting options for investments on a highly capital-efficient basis. I am
looking forward to working with an impressive team of scientists in such an
exciting field."
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 or UCB and
development partnerships with e.g. Janssen Pharmaceuticals in the field of
Alzheimer's disease, with MedImmune and Sanofi in the field of diabetes,
with Pfizer in the field of tissue fibrosis and with Second Genome in the
field of inflammatory diseases. 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
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2016-06-29 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.
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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; Terminbörse EUREX
End of News DGAP News Service