Evotec and Boehringer Ingelheim Extend and Broaden Research Collaboration

Strategic research collaboration continues for another 4 years at a value of EUR 15 million plus milestones and royalties

10-Nov-2009 - Germany

Evotec AG announced that it has extended the research collaboration with Boehringer Ingelheim for a further 4 years. The collaboration was initiated in August 2004 and has been extended on two previous occasions. At the same time, based on the success to date in the areas of CNS, inflammation, cardiometabolic and respiratory diseases the scope of the collaboration has been expanded to also include oncology targets. Over the term of the extension Evotec will receive research funding of around EUR 15 million plus success milestones and royalties.

Dr Werner Lanthaler, Chief Executive Officer of Evotec, commented: "We are extremely pleased and proud that Boehringer Ingelheim continues to see the value that we bring to their research, by committing to one of the largest and most innovative integrated research projects in the industry. This extension speaks volumes for the excellent scientific results achieved."

In 2004, Evotec and Boehringer Ingelheim entered into a multiyear drug discovery collaboration to jointly identify and develop preclinical development candidates for the treatment of various diseases. Under the terms of the agreement, Boehringer Ingelheim has full ownership and global responsibility for clinical development, manufacturing and commercialisation of the compounds identified. In return, Evotec receives ongoing research payments and preclinical milestones. Furthermore, the contract provides substantial long-term upside for Evotec through potential payments for successful milestone achievements during clinical development and royalties when new drugs reach the market.

https://www.bionity.com/en/news/109180/evotec-and-boehringer-ingelheim-extend-and-broaden-research-collaboration.html