Evotec AG: LAB282 Accelerates With Second Round Funding
Published: Jun 22, 2017
* The drug discovery partnership between Oxford University, Evotec and Oxford Sciences Innovation Awards five new life sciences projects
HAMBURG, Germany--(BUSINESS WIRE)--Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) announced today that LAB282, the drug discovery BRIDGE between Oxford University, has made its second round of awards to support promising life sciences ideas emerging from the University.
LAB282 is providing critical early stage guidance and industry validation to novel therapeutic concepts. LAB282's steering committee decided to support five of those concepts with significant awards:
- A novel treatment concept to inhibit chemotherapy-induced nerve damage
- A potential new class of antibiotics
- A new target for the treatment of heart failure
- Therapeutics for chronic inflammatory disorders of the digestive system
- Potential relief from rheumatoid arthritis
Combined with financial support the five projects will receive ongoing translational support from Oxford University Innovation ("OUI"), the University's research commercialisation company, and full access to Evotec's pre-clinical platforms and expertise. LAB282 funding and expertise will facilitate the scale-up of these projects to the point that they can become fully-fledged, successful Oxford University spin-out companies, and turn their ideas into pre-clinical proof-of-concept and clinical-stage therapeutic applications.
Dr Thomas Hanke, Evotec's LAB282 Expert-in-Residence, said: "LAB282 is exceeding expectations, having already identified seven projects overall which the partnership is now accelerating towards seed funding-readiness. Our BRIDGE model is bringing together world-class research, global life sciences leadership and expertise, and an investor which understands the sector and is bold enough to back it all the way . We're already beginning to see this partnership bloom, and everyone involved in the partnership knows that this is just the start."
"With LAB282, we have created the first strategic academic BRIDGE fund. This is a highly innovative partnership and conceptual framework which we plan to roll-out to many more innovation hot-spots", added Dr Werner Lanthaler, Chief Executive Officer of Evotec.
Carolyn Porter, Deputy Head of Technology Transfer, Oxford University Innovation, added: "The partnership between university, finance and corporates to provide much needed resources at the early stage is a rare one. However, we are dealing with bold, pioneering research and we must find bold, pioneering ways to exploit these ideas and ensure they have a positive impact on society, the economy, and the wider world. We are encouraged by the breadth of projects funded to date which speaks to this impact occurring across multiple therapeutic areas."
LAB282 plans to hold four funding rounds annually over its three-year lifetime, with the intention of supporting the creation of at least five new Oxford University spin-outs. Founded in November 2016, LAB282 is a partnership between OUI, acting on behalf of the University, Oxford Sciences Innovation and Germany-based global biotech company Evotec.
LAB282, initiated in November 2016, is a £ 13 m partnership between the Oxford University, Oxford University Innovation Ltd, Oxford Sciences Innovation plc and Evotec AG created to identify and develop new approaches to treating serious diseases, which originate from the Oxford University. The goal is to accelerate the achievement of pre-clinical proof of concept for new drugs and to generate new spin-out companies. The name derived from the pantone colour code of "Oxford Blue". For more information, please visit www.lab282.org.
ABOUT OXFORD UNIVERSITY'S MEDICAL SCIENCES DIVISION
The Division is one of the largest biomedical research centres in Europe, with over 2,500 people involved in research and more than 2,800 students. The University is rated the best in the world for medicine, and it is home to the UK's top-ranked medical school.
From the genetic and molecular basis of disease to the latest advances in neuroscience, Oxford is at the forefront of medical research. It has one of the largest clinical trial portfolios in the UK and great expertise in taking discoveries from the lab into the clinic. Partnerships with the local NHS Trusts enable patients to benefit from close links between medical research and healthcare delivery. A great strength of Oxford medicine is its long-standing network of clinical research units in Asia and Africa, enabling world-leading research on the most pressing global health challenges such as malaria, TB, HIV/AIDS and flu. Oxford is also renowned for its large-scale studies which examine the role of factors such as smoking, alcohol and diet on cancer, heart disease and other conditions.
ABOUT OXFORD SCIENCES INNOVATION
Oxford Sciences Innovation plc is the world's largest IP investment company dedicated to a single university. Founded in May 2015, we help turn Oxford University's world-leading scientific discovery into innovative science and technology companies that can have a positive impact on society. We provide capital and expertise to businesses driven by intellectual property developed in Oxford's Mathematical, Physical, Life Sciences Division and Medical Sciences Divisions. We are guided and powered by some of the world's leading organisations, including Invesco, Woodford Investment Management, the Wellcome Trust and Lansdowne Partners.
ABOUT OXFORD UNIVERSITY INNOVATION
Oxford University Innovation supports innovation activities across all University Divisions, managing technology transfer and consulting activities, and providing an innovation management service to clients around the world.
We provide access to technology from Oxford researchers through intellectual property licensing, spinout company formation and material sales, and to academic expertise through our Consulting Services team. The New Venture Support & Funding team supports investors or donors with an interest in early-stage ventures, and manages the Oxford Angels Network. Our Startup Incubator supports members and ex-members of the University who wish to start or grow entrepreneur-driven ventures that are not University spinouts.
Oxford University Innovation is the highest university patent filer in the UK and is ranked 1st in the UK for university spin-outs, having created over 140 new companies in 25 years. In the last reported financial year we completed 529 licenses and consulting agreements. Isis Enterprise, our innovation management consultancy, works with university, government and industrial clients from offices around the world. For updates on innovations from Oxford, follow Oxford University Innovation on LinkedIn and Twitter or subscribe at http://innovation.ox.ac.uk/about/contact-us.
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, academics, patient advocacy groups and venture capitalists. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic to meet the industry's need for innovation and efficiency in drug discovery (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 neuroscience, diabetes and complications of diabetes, pain and inflammation, oncology and infectious diseases. On this basis, Evotec has built a broad and deep pipeline of more than 70 partnered product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term discovery alliances with partners including Bayer, CHDI, Sanofi or UCB and development partnerships with e.g. with Sanofi in the field of diabetes, with Pfizer in the field of tissue fibrosis and Celgene in the field of neurodegenerative diseases. For additional information please go to www.evotec.com and follow us on Twitter @EvotecAG.
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.
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