Evotec takes Euro 6 M on reaching two further milestones in research collaboration

Evotec AG reached two further milestones in its drug discovery collaboration with Boehringer Ingelheim, triggering payments of Euro 6 million. One milestone was achieved for the start of lead optimisation for a specific target, the third time within the collaboration that a product has reached this stage.

The second milestone was achieved in a separate programm for the selection of a compound for preclinical development. Boehringer  will be responsible for the development programme, with  Evotec entitled to receive additional milestones plus royalties depending on the compound’s progress.

The collaboration began in 2004, when Evotec entered into a multi-year drug discovery collaboration to jointly identify and develop compounds for the treatment of various diseases, including CNS related disorders. The agreement has been expanded and extended on two occasions since. Boehringer Ingelheim has full ownership and global responsibility for clinical development, manufacturing and commercialisation of the compounds identified in the deal.

In return, Evotec receives research payments and preclinical milestones. The milestones announced today are the fourth and fifth milestones achieved to date.