Evotec Achieves Boehringer Ingelheim Milestone

Evotec has achieved the second milestone in its research collaboration with Boehringer Ingelheim. Under the terms of the drug discovery contract, Evotec will receive a milestone payment from Boehringer for the identification of a number of lead series for a priority receptor target. Further projects within the collaboration are progressing and are on track to achieve additional project milestones for which Evotec is entitled to additional payments. The contract also provides substantial long-term upside through potential payments for successful milestone achievements during clinical development and royalties when new drugs reach the market. Financial details were not disclosed.

Dr. Mark Ashton, executive vice president, business development services at Evotec, commented, “Cooperating with prestigious pharmaceutical companies such as Boehringer Ingelheim is central to Evotec’s success. We are extremely proud that we have achieved our second milestone with Boehringer and that we have been able to rapidly advance hit compounds, discovered from screening this target at Evotec, to qualified lead series. This is an excellent validation of our research contribution and is even more pleasing as it comes right at the time that we have significantly extended and expanded our partnership.”

Professor Mikael Dolsten, head of corporate division R&D, Boehringer Ingelheim, said, “We are very pleased with the rapid progress achieved in the collaboration. The basis for this second milestone achievement was both the strong interdisciplinary project work as well as the good team spirit between the Boehringer Ingelheim and Evotec scientists. We are looking forward to further progress with the two advanced projects and to further exciting research activities.”