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Evotec OAI Signs Medicinal Chemistry Agreement with Axxima Pharmaceuticals
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Evotec OAI Signs Medicinal Chemistry Agreement with Axxima Pharmaceuticals
Hamburg, Munich, Germany | Abingdon, UK – Evotec OAI (Deutsche Börse: EVT,
TecDAX 30), a partner for integrated high-value-added drug discovery services to
the pharmaceutical and biotechnology industries, and Axxima Pharmaceuticals AG,
a drug discovery and development company leading the field of pathogen-host
signal transduction, today announced that they have entered into a medicinal
chemistry agreement to design and synthesise small molecule lead structures for
one of Axxima’s leading kinase targets.
Under the terms of the drug discovery contract Evotec OAI will apply its
integrated medicinal chemistry platform to optimise initial screening hits
already identified by Axxima and rapidly progress them towards novel clinical
candidates for clinical trials. Financial details of the collaboration were not
disclosed.
“Signing this contract with Axxima is a further strong validation of the quality
of our integrated medicinal chemistry offering,” said Jörn Aldag, President and
Chief Executive Officer of Evotec OAI. “We are delighted that Axxima chose us
to support them in building strong intellectual property around one of their
anti-infective targets.”
“The chemistry expertise provided by Evotec OAI ideally complements our inhouse
medicinal chemistry programs,” said Dr. Gerhard Müller, Chief Scientific Officer
of Axxima. “The professionalism of their integrated medicinal chemistry
platform qualifies Evotec OAI as an ideal long-term drug discovery partner to
support us in progressing selected projects into promising clinical drug
candidates.”
About Evotec OAI AG
Evotec OAI has established itself as the partner of choice for drug discovery
and development services for the world’s premier pharmaceutical and
biotechnology companies, maintaining its leadership role through innovation and
unmatched customer service.
The Company’s business strategy is clearly focussed on drug discovery. It has
established the most comprehensive technology platform and skills that integrate
its world-class biology and chemistry capabilities. Evotec OAI leverages this
discovery engine in providing assay development and screening through to
compound optimisation and drug manufacturing services to a broad and well-
established network of customers. In addition, the Company engages in selected
discovery programmes itself to develop drug candidates for early outlicensing.
Evotec OAI’s instrument and technology business is now successfully handled by
its affiliate, Evotec Technologies.
With over 600 people in Hamburg, Germany and Abingdon, UK, Evotec OAI is
dedicated to returning value to its shareholders and employees through a
sustainable business strategy that balances short-term and long-term revenue
opportunities.
About Axxima Pharmaceuticals AG
Axxima Pharmaceuticals AG is a drug discovery and development company,
pioneering the revolutionary approach of generating a “Signal Transduction Fire-
wall” to combat infections, related disorders and diseases, such as
inflammation. The most advanced projects include HIV, hepatitis C, tuberculosis
and HCMV. By blocking critical signal transduction pathways required by
pathogens for their survival, Axxima’s compounds address entirely novel
mechanisms for fighting resistance formation. Whereas the goal of conventional
medications is to target the disease causing pathogen directly, the new
generation of drugs developed by Axxima will prevent the pathogen hijacking the
communication system of the cell for their own purposes. Tapping its pipeline,
Axxima plans to outlicense, sell or partner products at defined development
stages to customers in the pharmaceutical industry. Typical products are
compounds in pre-clinical or clinical development, optimized lead compounds or
selected validated targets. Additionally, Axxima intends to partner its drug
discovery technology in indications outside Axxima’s core focus areas. In three
private financing rounds Axxima has received a total of 56 million Euro from
German and international investors. Lead investor of the third financing round
was Bear Stearns Health Innoventures, New York. The previous financing rounds
were led by Techno Venture Management of Munich, Germany. The Company currently
employs a total staff of 90, located at Axxima’s headquarters in Munich,
Germany, and at its Hungarian subsidiary Vichem Kft. in Budapest. Further
information about Axxima can be found at http://www.axxima.com .
Contact:
Evotec OAI AG
Schnackenburgallee 114
22525 Hamburg
Anne Hennecke
Investor Relations & Corporate Communications
Phone: +49.(0)40.56081-286
Fax: +49.(0)40.56081-333
anne.hennecke@evotecoai.com
Axxima Pharmaceuticals AG
Max-Lebsche-Platz 32
D-81377 München
Dipl.-Biol. Arnd Prilipp
Manager Corporate Communications
Phone: +49.(0)89.55065-266
Fax: +49.(0)89.55065-255
arnd.prilipp@axxima.com
end of message, (c)DGAP 25.06.2003
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WKN: 566480; ISIN: DE0005664809; Index: TecDAX, NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
250910 Jun 03