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Evolva A/S to Receive First Milestone Payment from Roche (RHHBY)


6/14/2011 9:28:41 AM

Reinach, Switzerland, 14 June 2011 – Evolva Holding SA (SIX: EVE) today announced that Roche (SIX: ROG, RO; OTCQX: RHHBY) has confirmed that Evolva has achieved its first milestone in their collaboration. Roche will now make a corresponding milestone payment (of an undisclosed amount) to Evolva. The milestone relates to the achievement of diverse, purified active compounds that derive from Evolva’s synthetic biology platform. The milestone payment does not change Evolva’s cash flow guidance for 2011.

The aim of Evolva’s collaboration with Roche is to use Evolva’s technology platform to create compounds with activity on targets in oncology and infectious disease. The project commenced in January 2010.

Neil Goldsmith, CEO and Managing Director of Evolva, said “The collaboration with Roche is progressing well. Our platform is delivering on its promise to fundamentally change multiple industries. After recent successes in nutritional ingredients, it is great to see the potential in pharmaceuticals further confirmed.”

About the Roche discovery collaboration

The programme was initiated in January 2010 and focuses on creating compounds with activity on targets in oncology and infectious disease using Evolva’s technology platform. Roche has paid Evolva an up-front technology access fee and is paying research fees during the project. Roche will have responsibility to take forward any compounds discovered during the collaboration and will potentially pay Evolva research and clinical milestone fees as well as royalties on any products that result from the collaboration. Evolva will have the first right to any compounds not taken forward, or subsequently deprioritised by Roche.

About Evolva

Evolva is an international, innovative synthetic biology company with a world-class research platform. Evolva strives to improve people’s lives by applying its technology and other resources to the discovery and development of new products and processes that benefit the health, well-being and financial economy of patients, consumers and partner companies around the world. Evolva uses biosynthetic and evolutionary technologies to artificially create and optimise small molecule compounds and their production routes. Our approach differs from that of the mainstream in the pharmaceutical and chemical industries. We have discovery partnerships ongoing both in pharma and in nutrition. In addition we have a pipeline of promising compounds aimed at infectious and cardio-renal indications. For more information visit www.evolva.com.

Contact Details

Evolva

Neil Goldsmith, CEO

neilg@evolva.com

+ 41 61 485 2005

Jakob Dynnes Hansen, CFO

jakobdh@evolva.com

+ 41 61 485 2034

Paul Verbraeken, IR

paulv@evolva.com

+ 41 61 485 2035

Capital MSL

Mary Clark, Justine Lamond and Hollie Vile

evolva@capitalmsl.com

+44 (0)20 7307 5337


Read at BioSpace.com

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