Evotec Signs Agreement with DiscoveRx Corporation to Support High Throughput Screenng Services
Release date: 10/20/2009
Hamburg, Germany | Oxford, UK - October 20, 2009 - Evotec AG (Frankfurt Stock Exchange: EVT; NASDAQ: EVTC), a leading provider in the discovery and development of novel small molecule drugs and DiscoveRx Corporation (Fremont, USA), a premier provider of innovative cell based assay solutions, today announced a co-marketing agreement for the screening of GPCR’s and other targets.
Under the terms of the agreement, Evotec will have access to DiscoveRx’s PathHunter® and cAMP Hunter™ cell lines and proprietary EFC chemiluminescent detection technology for use during hit identification and optimization projects performed for Evotec customers, using the company’s proprietary high throughput screening platform.
DiscoveRx’s EFC related technologies offer assay solutions for every major class of drug target, including GPCRs, kinases, proteases, nuclear hormone receptors, and secreted proteins. More specifically, EFC-based PathHunter® and HitHunter® cAMP assays are the market leaders in GPCR screening applications. The combination of these technologies with Evotec’s proprietary technologies and know-how in high throughput screening means that Evotec can now offer unrivalled screening solutions within the drug discovery process for GPCRs and other important target classes.
Evotec’s Executive Vice President, Business Development, Dr Mark Ashton commented: “We are constantly seeking opportunities to further enhance our Discovery Alliance Business (DAB). For our customers, this agreement means that DiscoveRx’s innovative assay portfolio of more than 300 cell based GPCR assays can be accessed in conjunction with the first-class high throughput screening set-up at Evotec. This will provide significant value to our screening partners, specifically in the area of GPCR screening.”
Dr. Pyare Khanna, President and CEO, DiscoveRx commented: “DiscoveRx constantly strives to provide its truly innovative solutions to screening community and we are delighted that this relationship with Evotec will add value to our efforts of bringing industry leading portfolio of PathHunter® and HitHunter® GPCR assays to not only Evotec’s existing customer base but also to a broader audience”.
Evotec has a unique assay development and screening platform built around proprietary and the latest commercial technologies. In addition, Evotec boasts an actively managed small molecule screening collection, differentiated through its quality, novelty and diversity. To date, Evotec has successfully developed in excess of 320 biochemical, functional and cellular assays and has carried out over 160 high throughput screening campaigns for its partners.
About DiscoveRx Corporation
Founded in 2000, DiscoveRx is a privately held, venture-backed company headquartered in Fremont, California, with an additional office in Birmingham, England. The Company pioneered the use of β-galactosidase enzyme fragment complementation in biochemical and cell based assays for discovery research, and holds extensive intellectual property in this area. DiscoveRx is dedicated to the development and commercialization of innovative solutions to study GPCRs, Kinases and other major drug target classes, and many of their innovative products have been widely adopted in pharmaceutical and biotech drug screening laboratories worldwide. The Company is also a recipient of two Frost and Sullivan 2008 awards: Award for Innovation in North American Healthcare Market as well as a European Product Line Strategy Award for it's GPCR Cell Based assay portfolio. For more information on DiscoveRx products, please visit www.discoverx.com.
About Evotec AG
Evotec is a leader in the discovery and development of novel small molecule drugs. The Company has built substantial drug discovery expertise and an industrialized platform that can drive new innovative small molecule compounds into the clinic. In addition, Evotec has built a deep internal knowledge base in the treatment of diseases related to neuroscience, pain, and inflammation. Leveraging these skills and expertise the Company intends to develop best-in-class differentiated therapeutics and deliver superior science-driven discovery alliances with pharmaceutical and biotechnology companies. Evotec has long-term discovery alliances with partners including Boehringer Ingelheim, CHDI, Novartis, Ono Pharmaceutical and Roche. Evotec has product candidates in clinical development and a series of preclinical compounds and development partnerships, including for example a strategic alliance with Roche for the EVT 100 compound family, subtype selective NMDA receptor antagonists for use in treatment-resistant depression. For additional information please go to www.evotec.com.
Sr. VP Business Development
tel | 510.979.1415 x104
Dr. Mark Ashton
EVP, Business Development
CB10 1XL, UK
tel | +44.0.1235.441236
De Facto Communications
tel | +220.127.116.1161.3043
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about our expectations and assumptions concerning regulatory, clinical and business strategies, the progress of our clinical development programs and timing of the results of our clinical trials, strategic collaborations and management's plans, objectives and strategies. These 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. In particular, the risks and uncertainties include, among other things: risks that the Company may be unable to reduce its cash burn through recent restructuring and cost containment measures and may not recognize the results of such measures within the expected timeframe; risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured; the risk that we will not achieve the anticipated benefits of our collaborations, partnerships and acquisitions in the timeframes expected, or at all; risks relating to our ability to advance the development of product candidates currently in the pipeline or in clinical trials; our inability to further identify, develop and achieve commercial success for new products and technologies; the risk that competing products may be more successful; our inability to interest potential partners in our technologies and products; our inability to achieve commercial success for our products and technologies; our inability to protect our intellectual property and the cost of enforcing or defending our intellectual property rights; our failure to comply with regulations relating to our products and product candidates, including FDA requirements; the risk that the FDA may interpret the results of our studies differently than we have; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully secure regulatory approval of and market our drug candidates; and risks of new, changing and competitive technologies and regulations in the U.S. and internationally. The list of risks above is not exhaustive. Our most recent Annual Report on Form 20-F, filed with the Securities and Exchange Commission, and other documents filed with, or furnished to the Securities and Exchange Commission, contain additional factors that could impact our businesses and financial performance. 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.