AstraZeneca PLC (AZN), Evotec AG (EVTG.F) Sign Kidney Disease Pact, Value of the Collaboration Undisclosed
10/21/2013 7:09:15 AM
Evotec Enters Integrated Alliance With AstraZeneca in Kidney Disease
HAMBURG, Germany, Oct. 21, 2013 (GLOBE NEWSWIRE) -- Evotec AG (EVT.F) (TecDAX) (ISIN:DE0005664809) today announced that it has signed an agreement with AstraZeneca in the field of kidney diseases. Initial focus of the alliance will be exploring compounds and targets with novel mechanisms that have disease-modifying potential for the treatment of chronic kidney disease.
Under the terms of this licence and collaboration agreement, AstraZeneca will receive access to a selected series of molecules identified in a screening effort, which is part of Evotec's systematic kidney disease initiative. This particular programme has been designed to explore a key mechanism in the field of chronic kidney disease. AstraZeneca will provide industrial scope and scale as well as pharmaceutical development expertise and marketing capabilities.
The agreement between Evotec and AstraZeneca triggers an undisclosed upfront payment as well as pre-clinical, clinical and regulatory milestones. Evotec is also eligible for additional milestone and royalty payments related to commercialisation. Evotec will receive research funding for work that will be conducted in collaboration with AstraZeneca. Specific financial details were not disclosed.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "Exploring novel mechanisms and novel targets in the field of kidney disease is a logical next step for Evotec. We are very excited about AstraZeneca joining one of our programmes. AstraZeneca is a great partner sharing not only our vision but making valuable contributions beyond in an integrated discovery and development process."
Dr Marcus Schindler, Head of Cardiovascular and Metabolic Diseases iMed, AstraZeneca, added: "Cardiovascular and metabolic diseases (CVMD) represents one of the three core areas for AstraZeneca. Within CVMD, we are committing significant efforts on research and development of potential new treatments for diabetic nephropathy, end-stage as well as chronic kidney disease. Our goal is to identify and develop effective therapies to halt or slow down the decline of renal function for patients suffering from kidney diseases. This new collaboration complements our research efforts in the renal disease space. Evotec has built a leading drug discovery platform in the field of kidney diseases and is well-positioned to work with us to generate highly innovative drug candidates so that we can accelerate the delivery of new medicines to patients."
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic. The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuroscience, pain, metabolic diseases as well as oncology and inflammation. Evotec has long-term discovery alliances with partners including Bayer, Boehringer Ingelheim, CHDI, Genentech, Janssen Pharmaceuticals, MedImmune/AstraZeneca and Ono Pharmaceutical. In addition, the Company has existing development partnerships and product candidates both in clinical and pre-clinical development. These include partnerships with Boehringer Ingelheim, MedImmune and Andromeda (Teva) in the field of diabetes, with Janssen Pharmaceuticals in the field of depression and with Roche in the field of Alzheimer's disease. For additional information please go to www.evotec.com.
AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: astrazeneca.com.
In cardiovascular and metabolic diseases AstraZeneca focuses the small molecule research on three strategic areas: Cardiac Regeneration, Islet Health (diabetes) and Diabetic Nephropathy.
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.
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