Roche, Evotec AG Sign Alzheimer's Pact Worth Up to $830 Million
Published: Sep 07, 2011
Roche Holding AG (ROG) will pay Evotec AG (EVT) $10 million for the right to develop Evotec’s EVT 302 compound for Alzheimer’s disease. Evotec may receive as much as another $820 million if development and sales goals are met, as well as double-digit royalties, the Hamburg-based company said in a statement today. Basel, Switzerland-based Roche will pay for clinical development, manufacturing and commercialization, Evotec said. The compound targets monoamine oxidase type B, or MAO-B, an enzyme that breaks down dopamine in the brain and contributes to the production of free radicals, which may contribute to the spread of the disease, Evotec said.