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Drug discovery and development specialist Evotec AG has said that it will be making more projects available for strategic partnering. This move comes as it restructures to focus on core programmes and reduce its operating costs.
This follows the completion of a review which resulted in the implementation of the strategic plan – Evotec 2012 - Action Plan to Focus and Grow – under which the company aims to reduce business expenses by more than 10 per cent, and cut R&D costs by more than 30 per cent, resulting in annual savings of €14 million.
“To ensure that our efforts are focused on core differentiated projects and activities that will deliver the greatest value to stockholders and partners, we have made some prompt and clear decisions regarding our financial resources and strategic direction,” said Werner Lanthaler, CEO. “We will significantly downsize our [...] costs, focus on core research and development programmes and make more projects available for strategic partnering. At the same time we have decided to invest and expand our successful discovery alliance business.”
The company’s core pipeline programmes consist of EVT 302 for smoking cessation, currently in a Phase II proof of concept trial; a P2X7 antagonist for rheumatoid arthritis, currently in Phase I studies; and a H3 and a P2X3 antagonist programme, both of which are expected to start Phase I studies in 2010. In addition, Evotec has a number of projects in preclinical development.
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