Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) announced today that its multi-target endometriosis alliance with Bayer has advanced a program from the alliance portfolio into Phase I clinical development for the treatment of endometriosis, triggering a milestone payment to Evotec.
Evotec also announced today that both companies have agreed to extend this multi-target endometriosis alliance until the end of 2018. The companies entered into the alliance in October 2012 with the aim to identify three clinical candidates over a five-year period. The alliance has successfully developed an industry-leading endometriosis portfolio and will now aim to identify a total of four clinical candidates.
Both parties contribute innovative drug targets and high-quality technology infrastructures and share the responsibility for early research and pre-clinical characterization of potential clinical candidates in the disease area of endometriosis. Bayer is responsible for subsequent clinical development and commercialization while Evotec is eligible for clinical and sales milestones as well as royalties on net sales depending on the successful development and approval of a potential drug candidate.
Dr Mario Polywka, Chief Operating Officer of Evotec, said, “We are proud to have achieved this important milestone as it represents the second compound to progress into FiM (“First-in-Man”) studies. Bringing together our complementary strengths and expertise in one team, we have established a first-in-class endometriosis portfolio of targets for the discovery of promising new medicines. Further projects within the multi-target collaboration are progressing very well and we are looking forward to continued success.”