Evotec achieves clinical development milestone as part of its multi-target alliance with Bayer
Evotec AG announced that it has reached a milestone from Bayer for the progression of a programme from the alliance portfolio into Phase I clinical development for the treatment of endometriosis, triggering a milestone payment to Evotec.
This milestone was achieved under the strategic alliance between Evotec and Bayer entered in October 2012. The goal of the collaboration is to develop three clinical candidates within the five-year alliance. 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 will be 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 very pleased to report this exciting progress in our endometriosis collaboration with Bayer. The progression of this programme into clinical development is a significant achievement for the alliance. We look forward to continued success within the alliance as we strive to deliver new therapeutics for the treatment of this disease with significant unmet medical need."
Financial details were not disclosed.
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