Evotec Achieves Second Takeda Milestone

Evotec AG has achieved the second milestone in its four-year Alzheimer’s drug discovery collaboration with Takeda Pharmaceutical Co. Ltd., triggering a milestone payment of more than $1.3 million. Evotec granted Takeda exclusive rights to a novel target in Alzheimer’s disease. Evotec is now eligible for future milestone payments on the successful development of compounds acting on the selected target. Also, Evotec is entitled to further milestone payments should Takeda select additional targets from Evotec’s target database.

Dr. John Kemp, executive vice president R&D at Evotec, said, “We are extremely proud that we have reached our second project milestone with Takeda. Over the past three years we have made excellent progress in building substantial expertise and IP around novel Alzheimer’s disease targets. The relationship with Takeda is very productive and we are looking forward to jointly leveraging our innovative Alzheimer’s disease toolbox during the years to come.”