Hamburg, Germany, 24 July 2017: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) announced today that its multi-target endometriosis alliance with Bayer has advanced a programme 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 characterisation of potential clinical candidates in the disease area of endometriosis. Bayer is responsible for subsequent clinical development and commercialisation 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, commented: "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."
ABOUT ENDOMETRIOSIS
Endometriosis affects an estimated 176 million women worldwide or 10% of women of reproductive age. It is caused by the abnormal growth of tissue similar to that which lines the uterus (endometrial tissue) in locations outside of the uterine cavity, where it causes ectopic lesion growth and debilitating pain. Endometrial growth is commonly found on the ovaries and pelvic peritoneum, potentially involving other organs of the pelvic cavity as e.g. bladder, bowel, and the rectovaginal space. There is no known cure for endometriosis and most available drug treatments have certain limitations. Endometriosis is a highly complex and heterogeneous disease and there is still a high unmet medical need for innovative therapies which address the individual needs of affected women. The disease can greatly impact a woman's social, professional and personal life, and women with endometriosis often experience a higher incidence of depression and emotional distress due to the uncertainty of diagnosis, unpredictability of symptoms and living a normal life. Find more information at http://endometriosisfoundation.org or http://endometriosis-league.eu/en.
FORWARD LOOKING STATEMENTS
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.