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Evotec SE — M&A Activity 2016
Dec 9, 2016
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M&A Activity
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Corporate | 9 December 2016 07:30
EVOTEC AND FORGE THERAPEUTICS FORM STRATEGIC ‘SUPERBUG’ ALLIANCE
DGAP-News: Evotec AG / Key word(s): Alliance
2016-12-09 / 07:30
The issuer is solely responsible for the content of this announcement.
* Combination of leading innovative chemistry efforts with cutting-edge
anti-infective drug discovery platform
Hamburg, Germany, 09 December 2016:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) today
announced a strategic alliance with Forge Therapeutics, Inc. ("Forge") to
advance its novel Gram-negative antibiotic programme targeting 'LpxC' for
the treatment of bacterial infections including those caused by drug
resistant 'superbugs'. LpxC has been recognised as an attractive
antibacterial target for more than the past 15 years; however, a lack of
suitable chemical starting points has hampered its progress. Forge has been
applying its proprietary metal-binding pharmacophores ("MBP") library and
processes and has been able to identify potent drugable inhibitors of LpxC.
The alliance will be focused on lead optimisation of these inhibitors with
the goal of identifying a development candidate in the next couple of years
Evotec will, through a team of more than 10 scientists, contribute
cutting-edge biochemistry, microbiology, medicinal chemistry, structural
biology, computational chemistry, ADME/PK/analytical, and programme
management.
"Antibacterials that act via novel mechanisms of action are desperately
needed to address untreatable infections that arise from drug-resistant
Gram-negative bacteria", said Zachary A. Zimmerman, Ph.D., CEO of Forge
Therapeutics. "Our LpxC inhibitors have proven to be stable, potent in
vitro, and have shown preliminary efficacy in vivo. We are thrilled to
partner with Evotec during lead optimisation as they provide significant
pre-clinical expertise and added horsepower to rapidly advance our novel
antibiotic to address this growing unmet global issue."
"The antibiotic field has been suffering from an innovation void over the
last 30 years and requires significant intellectual and financial stimulus
to address the issues of resistance", said Dr Mario Polywka, Chief
Operating Officer of Evotec. "Importantly, Forge's novel LpxC programme
coupled with Evotec's unrivalled drug discovery platform and expertise
offers significant promise in addressing this issue. We look forward to
working with our new partners at Forge."
ABOUT LPXC
LpxC is conserved across Gram-negative bacteria and not found in
Gram-positive bacteria or human cells. Other LpxC inhibitors have been
evaluated by biopharma in the past but chemistry limitations (e.g.
hydroxamic acid) have yielded ineffective compounds that suffer from poor
drug-like properties. Thus, there are no approved therapeutics targeting
LpxC. Forge, using its innovative chemistry platform, has developed novel
non-hydroxamate inhibitors of LpxC that are safe and effective in an animal
model of Gram-negative infection and are able to kill Gram-negative
superbugs where other antibiotics are ineffective.
ABOUT FORGE THERAPEUTICS, INC.
Forge Therapeutics, Inc. ("Forge") is a biotechnology start-up that
leverages its novel chemistry platform to develop small molecule inhibitors
to target metalloproteins. Metalloproteins are proteins that require metal
ions for their biological function and make up over 1/3 of the proteins in
the human body. Forge uses a proprietary approach comprised of molecular
modelling for rational drug design along with fundamental knowledge and
expertise in bioinorganic chemistry to target metalloproteins. The name
Forge Therapeutics comes from two definitions for forge: to manipulate
(inhibit) a metal object (metalloprotein) and to move forward steadily with
a purpose (the Forge team). Forge Therapeutics, Inc., maintains its
headquarters in San Diego, California. To learn more please visit
www.ForgeTherapeutics.com.
Contact: [email protected]
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company
focused on rapidly progressing innovative product approaches with leading
pharmaceutical and biotechnology companies, academics, patient advocacy
groups and venture capitalists. We operate worldwide providing the highest
quality stand-alone and integrated drug discovery solutions, covering all
activities from target-to-clinic to meet the industry's need for innovation
and efficiency in drug discovery (EVT Execute). The Company has established
a unique position by assembling top-class scientific experts and
integrating state-of-the-art technologies as well as substantial experience
and expertise in key therapeutic areas including neuroscience, diabetes and
complications of diabetes, pain and inflammation, oncology and infectious
diseases. On this basis, Evotec has built a broad and deep pipeline of more
than 70 partnered product opportunities at clinical, pre-clinical and
discovery stages (EVT Innovate). Evotec has established multiple long-term
discovery alliances with partners including Bayer, CHDI, Sanofi or UCB and
development partnerships with e.g. Janssen Pharmaceuticals in the field of
Alzheimer's disease, with Sanofi in the field of diabetes and with Pfizer
in the field of tissue fibrosis. For additional information please go to
www.evotec.com.
FORWARD LOOKING STATEMENTS
Information set forth in this press release contains forward-looking
statements, which involve a number of risks and uncertainties. The
forward-looking statements contained herein represent the judgement of
Evotec as of the date of this press release. Such forward-looking
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. 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.
Contact Evotec AG:
Gabriele Hansen, VP Corporate Communications & Investor Relations, Phone:
+49.(0)40.56081-255, [email protected]
2016-12-09 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Evotec AG
Manfred Eigen Campus / Essener Bogen 7
22419 Hamburg
Germany
Phone: +49 (0)40 560 81-0
Fax: +49 (0)40 560 81-222
E-mail: [email protected]
Internet: www.evotec.com
ISIN: DE0005664809
WKN: 566480
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service