DGAP-News: Evotec AG / Key word(s): Alliance
09.01.2017 / 07:29
The issuer is solely responsible for the content of this announcement.
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* Evotec participate in Eternygen's EUR 8 m (approx. $ 8.3 m) Series A
funding round together with Epidarex Capital, the lead investor, and a
consortium of prominent German investors
* Evotec to provide all pre-clinical drug discovery activities in
collaboration with Eternygen
Hamburg, Germany, 09 January 2017:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809)
announced today that it will extend its existing relationship with
Eternygen GmbH ("Eternygen") by becoming an investor in addition to being a
pre-clinical drug discovery partner. Within a consortium of investors
including VC Fonds Technologie Berlin, managed by IBB
Beteiligungsgesellschaft mbH, and two renowned family offices, Epidarex and
Evotec together will participate in Eternygen's latest funding round of EUR
8 m (approx. $ 8.3 m).
Eternygen, a privately owned metabolic diseases company based in Berlin,
Germany, is focused on the sodium coupled citrate transporter ("NaCT"), a
novel target which is also known as INDY ("I am Not Dead Yet"). INDY is a
key regulator of energy metabolism that may be involved in the pathogenesis
of nonalcoholic fatty liver disease ("NAFLD"), nonalcoholic steatohepatitis
("NASH"), diabetes and obesity. Eternygen will use the proceeds of the
Series A funding to accelerate its small molecule NaCT inhibitors towards
the selection of a pre-clinical lead candidate. Eternygen will rely on
Evotec's best-in-class drug discovery platform and metabolic disease
expertise to conduct all work to the selection of pre-clinical development
candidate and possibly beyond.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are
very excited to take part in the growth and ownership of a company which
together with Evotec has assembled world-leading expertise and tools around
a very promising mechanism in metabolic diseases. Combining academic
excellence with a highly focused management team and a proven platform is a
highly effective model for Evotec to bring forward projects with
first-in-class potential. Eternygen perfectly fits into this mold."
Marco Janezic, CEO Eternygen GmbH, said: "The successful completion of our
series A round with a syndicate of renowned investors is great recognition
for the achievements at Eternygen. Epidarex and Evotec have significant
expertise turning novel targets into successful drug development projects
and to commercialise such programmes. We are convinced that the world-class
metabolic drug development expertise these investors bring to the table
will greatly accelerate and enhance our company."
Kyp Sirinakis, Managing Partner at Epidarex Capital, added: "Epidarex is
pleased to be backing such a strong group of scientific and
commercialisation partners to advance this promising technology and
ultimately improve human health worldwide."
No further financial details are disclosed.
ABOUT ETERNYGEN GMBH
Eternygen is a Berlin based Biotech Company founded in June 2012 focusing
on research, development and marketing of NaCT inhibitors for the treatment
of dietary-related metabolic diseases. The founding team consists of
renowned scientists from leading German universities and academic
institutes as well as serial entrepreneurs from the venture and industry
community. Eternygen is a virtual company supported by a network of senior
industry experts and contract research organizations. Eternygen
shareholders include Epidarex Capital, Evotec AG, VC Fonds Technologie,
Berlin, Germany managed by IBB Beteiligungsgesellschaft mbH, and two
renowned family offices. For additional information please go to
www.eternygen.com.
ABOUT EPIDAREX CAPITAL
Epidarex Capital invests in early-stage, high growth life science and
health technology companies in under-ventured markets within the UK and US.
Epidarex was created to meet the need for more sector-specific risk capital
for young companies, including spin-outs from leading research
universities. The fund's international management team has a track record
of successfully partnering with top scientists and entrepreneurs to develop
highly innovative products for the global healthcare market. For further
information please visit www.epidarex.com.
ABOUT IBB BETEILIGUNGSGESELLSCHAFT
IBB Beteiligungsgesellschaft (www.ibb-bet.de) provides innovative
Berlin-based companies with venture capital and has established itself in
Berlin as a market leader in early-stage financing. The funds are used
primarily for developing and launching innovative products or services and
creative business concepts. Currently, two funds managed by IBB
Beteiligungsgesellschaft are in the investment phase: the VC Fonds
Technologie Berlin, with assets of 60 million EUR, and the VC Fonds
Kreativwirtschaft Berlin, with assets of 40 million EUR. Both VC funds are
subsidized by the Investitionsbank Berlin (IBB) and the European Regional
Development Fund (ERDF), managed by the State of Berlin. For additional
information please go to www.IBB-Bet.de.
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 and with Celgene in the field of
neurodegenerative 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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09.01.2017 Dissemination of a Corporate News, transmitted by DGAP - a
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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, Tradegate Exchange
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