Evotec Extends and Broadens Research Agreement with Cubist Pharmaceuticals
- Collaboration expanded to include integrated fragment-based drug discovery activities on additional antibacterial targets -
Hamburg, Germany – 25 February 2010: Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX) today announced that it has extended its research agreement with Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) to the end of 2010. Under the contract extension, Evotec will provide additional fragment-based drug discovery expertise using its proprietary platform, EVOlution™, which includes fragment screening, structural biology and protein crystallography, to discover and profile novel compounds against additional antibacterial targets selected by Cubist.
Evotec and Cubist have collaborated since July 2009, successfully progressing drug discovery programmes. Over the course of 2010, Evotec will continue and expand its support of Cubist’s discovery activities. A key benefit of Evotec’s fragment-based drug discovery platform is its versatility, combining biochemical and biophysical techniques including nuclear magnetic resonance (NMR), surface plasmon resonance (SPR) and x-ray crystallography, thus allowing the design of target-specific strategies.
Dr Mark Ashton, Executive Vice President, Business Development of Evotec commented: “This is further validation of our expertise and capabilities in fragment-based drug discovery. We enjoy the close and productive relationship we have with Cubist’s scientists and look forward to carry on adding significant value to their portfolio of antibacterial programmes.”
No financial details are disclosed.
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EVOlutionTM is Evotec’s fragment-based drug discovery platform which combines biochemical and biophysical techniques including nuclear magnetic resonance (NMR), surface plasmon resonance (SPR) and x-ray crystallography for the screening of low molecular weight compounds and fragments. By the combination of the orthogonal screening technologies, Evotec’s fragment screening platform is capable of screening a more diverse set of biological targets than other fragment screening approaches, as well as being able to screen the fragments in a high-throughput mode. The benefit of this is the ability to identify active fragments for numerous classes of biological targets in a short space of time. For further information, please see: www.evotec.com/fragment-based drug discovery.
About Fragment-based Drug Discovery
Fragment-based drug discovery (FBDD) is a new paradigm in drug discovery that utilises very small molecules - fragments of more complex molecules – to generate efficient starting points for drug discovery. This approach thus provides the opportunity to effectively manage the molecular weight and overall complexity of drug candidates, a recognised success factor in drug development.
About Evotec AG
Evotec is a leader in the discovery and development of novel small molecule drugs with operational sites in Europe and Asia. The Company has built substantial drug discovery expertise and an industrialised 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.
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 our strategic collaborations, our regulatory, clinical and business strategies, the progress of our clinical development programmes 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 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.