Evotec Receives Carb-X Funding for Resolute's Antibiotic Project
- EVOTEC IN-LICENSES HIGHLY INNOVATIVE RESOLUTE PROGRAMME WITH THE POTENTIAL TO DEVELOP NEW CLASS OF BROAD-SPECTRUM ANTIBIOTIC
- CARB-X SUPPORTS THE PROJECT WITH UP TO $ 8.44 M
HAMBURG, GERMANY / ACCESSWIRE / August 11, 2020 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) announced today that the Company has entered into a new partnership with the Biotech company Resolute Therapeutics ("Resolute") to combat infectious diseases and antimicrobial resistance. The partnership aims to develop a broad-spectrum antibiotic with a new mode of action compared to antibiotics currently on the market and will receive substantial funding from CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator), a global non-profit partnership led by Boston University and dedicated to funding and supporting the development of therapeutics, vaccines and rapid diagnostics to address the most serious drug-resistant bacteria.
Under the terms of the agreement, Evotec will in-license a promising research programme from Resolute currently in lead optimisation and continue the pre-clinical development on the Company's proprietary drug discovery and development platforms. The goal of the partnership is to develop a novel broad-spectrum antibiotic with both Gram-positive and Gram-negative coverage for indications including complicated urinary tract, intra-abdominal infections and hospital-acquired pneumonia. The compounds developed within the programme engage with two validated antibacterial targets but exhibit a novel mode of action.
Evotec will receive an award from CARB-X of up to $ 2.91 m over the next two years plus an additional $ 5.53 m over the three following years if certain project milestones are met, which will cover a substantial part of Evotec's expenses. Resolute will receive an undisclosed upfront payment from Evotec as well as success-based milestone payments while Evotec retains the right to take over the project at a pre-agreed value inflection point and subsequently continue the development with other potential clinical and marketing partners.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are delighted to license this highly innovative antibacterial programme from Resolute. New antibiotics are urgently needed, particularly those that hold significant promise to overcome antimicrobial resistance. The significant support from CARB-X further validates the approach and we are optimistic to rapidly drive this programme to clinical proof of concept and beyond."
Dr John Finn, President of Resolute Therapeutics, said: "We are excited to partner with Evotec to advance this important program and to have the CARB-X support. The antibacterial team at Evotec is very accomplished and brings a strong set of tools throughout all aspects of antibacterial preclinical research and development. We have enjoyed a close collaboration with the Evotec scientific team to draft the plan and feel confident that this team can deliver a new class of broad-spectrum antibacterial agents into the clinic."
"Serious hospital-acquired infections are a serious threat globally, and new antibiotics are urgently needed," said Erin Duffy, Ph. D., R&D Chief of CARB-X. "Evotec's compounds constitute a new antibacterial class which, if eventually approved for use in the treatment of serious multidrug-resistant bacterial infections, would represent significant progress in the race against drug resistant pathogens."
CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator) is a global non-profit partnership dedicated to supporting early development antibacterial R&D to address the rising threat of drug-resistant bacteria. CARB-X is led by Boston University and funding is provided by the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response (ASPR) in the US Department of Health and Human Services; the Wellcome Trust, a global charity based in the UK working to improve health globally; Germany's Federal Ministry of Education and Research (BMBF); the UK Department of Health and Social Care's Global Antimicrobial Resistance Innovation Fund (GAMRIF); the Bill & Melinda Gates Foundation, and with in-kind support from National Institute of Allergy and Infectious Diseases (NIAID), part of the US National Institutes of Health (NIH) within the US Department of Health and Human Services. CARB-X is investing up to US$500 million from 2016-2021 to support innovative antibiotics and other therapeutics, vaccines and rapid diagnostics. CARB-X supports the world's largest and most innovative pipeline of preclinical products against drug-resistant infections. CARB-X focuses exclusively on high priority drug-resistant bacteria, especially Gram-negatives. CARB-X is headquartered at Boston University School of Law. https://carb-x.org/. Follow us on Twitter @CARB_X
[Disclaimer]: Research reported in this press release is supported by the Cooperative Agreement Number IDSEP160030 from ASPR/BARDA and by awards from Wellcome Trust and Germany's Federal Ministry of Education and Research, as administrated by CARB-X. The content is solely the responsibility of the authors and does not necessarily represent the official views of the Department of Health and Human Services Office of the Assistant Secretary for Preparedness and Response, other funders, or CARB-X.
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ABOUT EVOTEC SE
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide and our more than 3,000 employees provide the highest quality stand-alone and integrated drug discovery and development solutions. We cover all activities from target-to-clinic to meet the industry's need for innovation and efficiency in drug discovery and development (EVT Execute). 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 neuronal diseases, diabetes and complications of diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases, fibrosis, rare diseases and women's health. On this basis, Evotec has built a broad and deep pipeline of approx. 100 co-owned product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term alliances with partners including Bayer, Boehringer Ingelheim, Bristol-Myers Squibb, CHDI, Novartis, Novo Nordisk, Pfizer, Sanofi, Takeda, UCB and others. For additional information please go to www.evotec.com and follow us on Twitter @Evotec.
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 press release. 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.
Contact Evotec SE:
Gabriele Hansen, SVP Head of Global Communications & Marketing, Phone: +49.(0)40.56081-255, email@example.com
SOURCE: Evotec AG via EQS Newswire
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