On June 7, 2005 Boehringer Ingelheim and Evotec OAI (Frankfurt Stock Exchange: EVT, TecDAX 30) reported on selected G-Protein Coupled Receptors (GPCRs) the first project milestone has been successfully achieved (Press release, Evotec, JUN 7, 2005 View Source;announcements/press-releases/p/evotec-oai-achieves-first-milestone-in-partnership-with-boehringer-ingelheim-4546 [SID1234538884]). Under the terms of the drug discovery collaboration, Evotec OAI AG has received a first research milestone payment from Boehringer Ingelheim. The payment was granted for the identification of a number of lead series for a priority target of this collaboration. Further projects within the multi-target collaboration are progressing on schedule. Evotec OAI is entitled to additional payments from Boehringer Ingelheim based on the achievement of further milestones. Further financial details of the payment were not disclosed.

Dr Mark Ashton, Executive Vice President Business Development Services at Evotec OAI, commented: "We are extremely proud that we have reached our first project milestone with Boehringer Ingelheim in such a short period of time. Over the past nine months we have built an excellent relationship and we are looking forward to a continued fruitful collaboration."

Professor Mikael Dolsten, Head of Corporate Division Pharma Research/Discovery, Boehringer Ingelheim GmbH, said: "We are very pleased with the progress achieved in the collaboration on GPCR targets, which constitute one of the most proven drug target classes in the medical area. Generation of novel leads against a disease relevant GPCR target was successfully achieved in a short time period. The basis for this first milestone achievement was both the excellent drug discovery performance and the good collaboration spirit between the Boehringer Ingelheim and Evotec scientists. We anticipate valuable results from this collaboration."

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Contacts:
Evotec OAI AG, Anne Hennecke, Investor Relations & Corporate Communications, 22525 Hamburg, Phone: +49 – 40 – 56081 286 / Boehringer Ingelheim GmbH, Ute Schmidt, Corporate Division Communications, 55216 Ingelheim, Phone: +49 – 6132 – 77 97296
Contacts:

Evotec OAI AG, Anne Hennecke, Investor Relations & Corporate Communications, 22525 Hamburg, Phone: +49 – 40 – 56081 286 / Boehringer Ingelheim GmbH, Ute Schmidt, Corporate Division Communications, 55216 Ingelheim, Phone: +49 – 6132 – 77 97296