Evotec Receives € 3 m Milestone Payment for Bayer Starting Phase II Clinical Development of DNP Programme
- FIRST DOSING OF A STUDY PARTICIPANT TRIGGERS MILESTONE PAYMENT OF € 3 M TO EVOTEC
- PHASE II CLINICAL TRIAL INITIATED BY EVOTEC'S PARTNER BAYER TO EVALUATE BAY 2395840 AS A POTENTIAL TREATMENT FOR DIABETIC NEUROPATHIC PAIN
HAMBURG, GERMANY / ACCESSWIRE / March 21, 2022 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ:EVO) announced today that the Company received a € 3 m milestone payment from Bayer AG as a result of another promising small molecule from the Evotec-Bayer multi-target research alliance advancing into Phase II clinical development as a potential treatment for diabetic neuropathic pain ("DNP").
DNP is a common chronic condition associated with nerve damage caused by high blood sugar levels in diabetic patients. DNP may be triggered through the slightest touch upon which the body sends unprompted pain signals to the brain. Thus, DNP can drastically impair the quality of life for people living with this condition.
BAY 2395840 is an investigational oral antagonist of the bradykinin receptor B1 ("BDKRB1"), which is known to play a role in pain perception.
Bayer has initiated a Phase II clinical trial to evaluate the safety and efficacy of BAY 2395840 in patients with DNP compared to placebo. The phase II study is anticipated to run until the end of 2022.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are excited that Bayer is moving ahead with the Phase II clinical development of an asset from our multi-target research alliance. The role of the bradykinin receptor B1 for pain reception is well documented. We are confident that the highly selective BDKRB1 antagonist BAY 2395840 stands a good chance to provide a new, urgently needed therapeutic option for DNP patients."
ABOUT EVOTEC SE
Evotec is a life science company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and make them available to the patients. The Company's multimodality platform comprises a unique combination of innovative technologies, data and science for the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. Evotec leverages this "Data-driven R&D Autobahn to Cures" for proprietary projects and within a network of partners including all Top 20 Pharma and over 800 biotechnology companies, academic institutions, as well as other healthcare stakeholders. Evotec has strategic activities in a broad range of currently underserved therapeutic areas, including e.g. neurology, oncology, as well as metabolic and infectious diseases. Within these areas of expertise, Evotec aims to create the world-leading co-owned pipeline for innovative therapeutics and has to-date established a portfolio of more than 200 proprietary and co-owned R&D projects from early discovery to clinical development. Evotec operates globally with more than 4,000 highly qualified people. The Company's 14 sites offer highly synergistic technologies and services and operate as complementary clusters of excellence. For additional information please go to www.evotec.com and follow us on Twitter @Evotec and LinkedIn .
This announcement contains forward-looking statements concerning future events, including the proposed offering and listing of Evotec's securities. Words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "should," "target," "would" and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding completion of the offering. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Evotec at the time these statements were made. No assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Evotec. Evotec expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Evotec's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
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SOURCE: Evotec AG
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