Evotec Brings Project in Neuropathic Pain into Clinical Development in its Alliance with Boehringer Ingelheim

Evotec receives EUR 2.0 million milestone payment from Boehringer Ingelheim

20-May-2010 - Germany

Evotec AG announced that a compound in its strategic alliance with Boehringer Ingelheim has advanced into clinical trials. With the initiation of the Phase I clinical studies for this compound, Evotec will receive a milestone payment of EUR 2.0 million. The compound, which was discovered and optimised within the alliance, is being developed as a novel treatment for neuropathic pain, a disease caused by damage or dysfunction of the nervous system and affecting up to 7-8% of the world’s population.

The alliance has involved working on multiple high priority targets across key therapeutic areas and has recently been expanded for four further years to include oncology. So far it has resulted in eight milestone payments from multiple programmes.

In 2004, Evotec entered into a multi-year, multi-target drug discovery collaboration with Boehringer Ingelheim to jointly identify and develop preclinical development candidates for the treatment of various disease areas including CNS, inflammation, cardiometabolic and respiratory diseases. In 2009, the collaboration was extended for an additional 4 years term and the scope expanded to include oncology targets. 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/117857/evotec-brings-project-in-neuropathic-pain-into-clinical-development-in-its-alliance-with-boehringer-ingelheim.html