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Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
Hamburg, Germany/ Oxford, UK - Evotec AG (Frankfurt Stock Exchange:
EVT; NASDAQ: EVTC), a leading provider in the discovery and
development of novel small molecule drugs, today announced that the
company has achieved an important milestone with Cardioxyl
Pharmaceuticals under a collaboration agreement for the compound,
CXL-1020, that has successfully moved into clinical testing. This
milestone has triggered a success payment from Cardioxyl
Pharmaceuticals to Evotec.
Evotec has been providing medicinal chemistry support to Cardioxyl
for over three years. During this time the compound, CXL-1020, was
developed through lead optimization and pre-clinical development
activities, and has now progressed to Phase I/IIa testing in heart
failure patients. Using its expertise in lead optimization and
computer aided drug design (CADD), Evotec has optimized a range of
molecules with the aim of identifying clinical compounds. The
collaboration helped Cardioxyl Pharmaceuticals to move from the early
stages of target validation to the initiation of clinical studies
within 27 months.
"Our collaboration with Evotec has provided us with critical
chemistry support during the development and optimization process of
our lead compound, CXL-1020," said Cardioxyl's Chief Executive
Officer, Chris Kroeger. "By accessing their proven skills in
medicinal chemistry, CXL-1020 has entered the clinic on a timeline
well ahead of the typical industry average"
Dr. Mario Polywka, Evotec's Chief Operating Officer commented, "This
successful collaboration further validates our ability and expertise
in advancing programmes through lead optimization and into the
clinic. We are delighted that the significant efforts of Evotec and
Cardioxyl have paid off with the progression of this project into the
clinic so rapidly."
No financial details are disclosed.
For further information, please contact:
Dr Mark Ashton
EVP, Business Development
Evotec AG
T : +44 (0) 1235 441236
E : mark.ashton@evotec.com
Hilary Latham
De Facto Communications
T : +44 (0) 20 7861 3043
E : h.latham@defacto.com
Forward-looking statements
Information set forth in this press release contains forward-looking
statements, which involve a number of risks and uncertainties. Such
forward-looking statements include, but are not limited to,
statements about our expectations and assumptions concerning
regulatory, clinical and business strategies, the progress of our
clinical development programs and timing of the results of our
clinical trials, strategic collaborations and management's plans,
objectives and strategies. These 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. In particular, the risks and
uncertainties include, among other things: risks that the Company may
be unable to reduce its cash burn through recent restructuring and
cost containment measures and may not recognize the results of such
measures within the expected timeframe; risks that product candidates
may fail in the clinic or may not be successfully marketed or
manufactured; the risk that we will not achieve the anticipated
benefits of our collaborations, partnerships and acquisitions in the
timeframes expected, or at all; risks relating to our ability to
advance the development of product candidates currently in the
pipeline or in clinical trials; our inability to further identify,
develop and achieve commercial success for new products and
technologies; the risk that competing products may be more
successful; our inability to interest potential partners in our
technologies and products; our inability to achieve commercial
success for our products and technologies; our inability to protect
our intellectual property and the cost of enforcing or defending our
intellectual property rights; our failure to comply with regulations
relating to our products and product candidates, including FDA
requirements; the risk that the FDA may interpret the results of our
studies differently than we have; the risk that clinical trials may
not result in marketable products; the risk that we may be unable to
successfully secure regulatory approval of and market our drug
candidates; and risks of new, changing and competitive technologies
and regulations in the U.S. and internationally.
The list of risks above is not exhaustive. Our most recent Annual
Report on Form 20-F, filed with the Securities and Exchange
Commission, and other documents filed with, or furnished to the
Securities and Exchange Commission, contain additional factors that
could impact our businesses and financial performance. 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 Message -
Evotec AG
Schnackenburgallee 114 Hamburg Germany
WKN: 566480; ISIN:
DE0005664809 ; Index: Prime All Share, CDAX, TECH All Share, HDAX,
MIDCAP;
Listed: Prime Standard in Frankfurter Wertpapierbrse, Regulierter
Markt in Frankfurter Wertpapierbrse,
Freiverkehr in Brse Stuttgart, Freiverkehr in Bayerische Brse
Mnchen,
Freiverkehr in Brse Berlin, Freiverkehr in Hanseatische
Wertpapierbrse zu Hamburg,
Freiverkehr in Niederschsische Brse zu Hannover, Freiverkehr in
Brse Dsseldorf;
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