DGAP-News: Evotec grants exclusive rights on EVT 401 in China to Conba Pharmaceutical
(firmenpresse) - DGAP-News: Evotec AG / Key word(s): Alliance
Evotec grants exclusive rights on EVT 401 in China to Conba
Pharmaceutical
02.05.2012 / 07:28
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* LICENSE GRANTED TO ONE OF THE LARGEST PHARMACEUTICAL COMPANIES IN CHINA
* DEVELOPMENT OF EVOTEC PROPRIETARY COMPOUND EVT 401 INTENDED FOR
INFLAMMATORY DISEASES
* UPFRONT, APPROX. EUR 60 MIO MILESTONES AND TIERED DOUBLE-DIGIT ROYALTIES
Hamburg, Germany - 02 May 2012: Evotec AG (Frankfurt Stock Exchange: EVT,
TecDAX) and Conba Pharmaceutical Co., Ltd. announced today the grant of a
development and marketing license on EVT 401, a selective, small molecule
P2X7 antagonist, for human indications with exception of ophthalmological,
chronic obstructive pulmonary disease (COPD) and endometriosis in China.
Evotec receives a small upfront payment, development and commercial
milestone payments in excess of EUR 60 m, and tiered double-digit royalties
on net sales. The agreement grants Conba Pharmaceutical exclusive rights to
develop and commercialise the compound for the Chinese market. Evotec will
have the right to reference clinical data produced by Conba Pharmaceutical
to support potential further development of EVT 401 in other territories.
P2X7 receptor antagonism may provide a novel approach for the treatment of
inflammatory conditions. Evotec has completed the first Phase I, single
dose study of EVT 401 in 2010. Conba Pharmaceutical will initiate further
clinical trials with EVT 401 in China in inflammatory diseases.
Dr Werner Lanthaler, CEO of Evotec said: 'We are very pleased to partner
with Conba, a leading Chinese pharmaceutical company, to tap into the
Chinese market for inflammatory diseases, such as rheumatoid arthritis.
This partnership will also increase the value of the P2X7 programme
worldwide, and follows our strategy to align with the best and most
dedicated partners in the industry.
Yu Bin, General Manager of Conba Pharmaceutical comments: 'We are delighted
about the collaboration with Evotec, a global leader in drug discovery and
development. This collaboration expands our ongoing strategy to become an
innovator in China for pharmaceutical R&D. We are confident about the
potential of this compound to become a novel treatment for inflammatory
diseases.'
ABOUT EVT 401
The P2X7 receptor is an ATP-gated ion channel primarily expressed on cells
of the immune system and is thought to play an important role in
inflammatory processes through the regulation of a number of
proinflammatory cytokines such as IL-1ß. Evotec has identified novel,
orally bioavailable, potent and selective P2X7 antagonists from multiple
proprietary chemical series. A candidate has been selected and has
completed the first Phase I, single dose study. The study was a
double-blind, placebo controlled study investigating the safety,
tolerability, pharmacokinetics and pharmacodynamics of EVT 401. A total of
96 healthy male volunteers received single oral ascending doses of the
compound as a suspension or capsule.
The compound was very safe and well tolerated and there were no serious
adverse events or withdrawals. In addition, the pharmacodynamic assay used
in this study demonstrated the ability of EVT 401 to block ATP-stimulated
IL-1ßrelease in whole blood samples taken from subjects, thereby proving
'on target' activity at well tolerated oral doses. In August 2011 EVT401
was partnered in animal health indication with a major animal health
company.
Contact Evotec AG:
Dr Werner Lanthaler, Chief Executive Officer, Phone: +49.(0)40.56081-242,
werner.lanthaler(at)evotec.com
FORWARD LOOKING STATEMENTS - Information set forth in this press
release contains forward-looking statements, which involve a number of
risks
and uncertainties. The forward-looking statements contained herein
represent
the judgement of Evotec as of the date of this report. Such forward-looking
statements are neither promises nor guarantees, but are subject to a
variety of
risks and uncertainties, many of which are beyond our control, and which
could
cause actual results to differ materially from those contemplated in these
forward-looking statements. We expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any such
statements to reflect any change in our expectations or any change in
events, conditions or circumstances on which any such statement is based.
End of Corporate News
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02.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Evotec AG
Manfred Eigen Campus / Essener Bogen 7
22419 Hamburg
Germany
Phone: +49 (0)40 560 81-0
Fax: +49 (0)40 560 81-222
E-mail: info(at)evotec.com
Internet: www.evotec.com
ISIN: DE0005664809
WKN: 566480
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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167593 02.05.2012
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