On January 17, 2006 Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX 30, "Evotec") reported that effective from 1 January 2006 Evotec and Boehringer Ingelheim GmbH ("Boehringer") will significantly expand their drug discovery collaboration initiated in September 2004, effectively doubling the already sizeable programme (Press release, Evotec, JAN 17, 2006, View Source;announcements/press-releases/p/evotec-and-boehringer-ingelheim-significantly-expand-and-extend-their-joint-drug-discovery-collaboration-4531 [SID1234538894]). At the same time, the collaboration that was originally projected to end in August 2007 was extended to the end of 2008.

Evotec and Boehringer aim to jointly identify and develop pre-clinical development candidates suitable for future selection as drug candidates for clinical testing. While the original contract was exclusively targeted at therapeutics acting on G-Protein Coupled Receptors (GPCRs), the extension also includes targets from different target classes, including ion channels and enzymes. Boehringer will have the ownership and global responsibility for all clinical development activities, manufacture and commercialisation of the compounds identified in the collaboration.

As compensation for Evotec’s contributions to the programme, Evotec receives ongoing research payments from Boehringer. In addition, Boehringer will pay to Evotec pre-clinical and clinical milestones as well as royalties on drugs discovered in the collaboration. The first project milestone was successfully announced in June 2005, less than one year after the start of this partnership.

Professor Mikael Dolsten, Head of Corporation Division Pharma Research/Discovery, Boehringer Ingelheim GmbH, said: "We are very pleased with the progress we have achieved in our collaboration with Evotec to date. We appreciate the drug discovery performance with the first milestone achieved as well as the positive spirit in the team. This has led us to extend and expand our relationship further."

Joern Aldag, President and Chief Executive Officer at Evotec, said: "Following an extremely successful start to our collaboration we are delighted with Boehringer’s commitment not only to place additional contracts with us but also in having the confidence and trust to significantly expand our drug discovery partnership and broaden it into other target areas. Bringing together our complementary strengths and expertise in one team we have established a powerful platform for the discovery of promising new medicines. As a long-term strategic partner we are proud to have delivered valuable contributions to Boehringer’s research in just a short period of time and look forward to a continued successful collaboration."

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Contact: Anne Hennecke, Director, Investor Relations & Corporate Communications, Evotec AG, Phone: +49-40-56081-286, [email protected]
Contact: Anne Hennecke, Director, Investor Relations & Corporate Communications, Evotec AG, Phone: +49-40-56081-286, [email protected]