Evotec SE — Regulatory Filings 2013

Jan 7, 2013

News Details

Corporate | 7 January 2013 07:28

Evotec expands collaboration with MedImmune, receives milestone payment

Evotec AG / Key word(s): Alliance

07.01.2013 / 07:28

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Hamburg, Germany - 07 January 2013: Evotec AG (Frankfurt Stock Exchange:
EVT, TecDAX) today announced that it has expanded the scope of its
collaboration with MedImmune, the global biologics arm of AstraZeneca,
after hitting a key milestone. Evotec achieved a milestone payment of
EUR0.5 m. The milestone triggers a commercial license granted to MedImmune
and an extension of the diabetes and beta cell regeneration collaboration
to the end of 2013.

This license and collaboration agreement in the diabetes therapeutic area
was initiated in December 2010. Within the agreement MedImmune has
exclusive access to a defined set of biologic targets that have the
potential to prevent or reverse disease progression in diabetic patients.
The size of the combined research team has expanded and Evotec will receive
additional research payments to support in vitro and in vivo experiments.

As part of the original agreement, Evotec received an upfront payment of
EUR5 m and could earn up to EUR254 m in further milestones and payments as
well as royalties on product sales. The majority of milestone payments are
due upon achievement of certain clinical as well as regulatory and
commercial milestones. Further milestone payments may be achieved with the
approval of additional indications and programs.

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: 'Together
with our colleagues at MedImmune and AstraZeneca we have been highly
productive in driving forward the development of EVT770 as well as
additional molecules in the portfolio. We are proud that we have already
achieved the second milestone in this collaboration and are very much
looking forward to expanding our efforts and thereby laying the foundation
for continued success.'

Dr Cristina Rondinone, Vice President and Head of MedImmune's
Cardiovascular and Metabolic Disease Center of Excellence, said: 'We are
excited to expand our collaboration with Evotec. Diabetes has reached
epidemic levels and it is one of the biggest causes of mortality worldwide.
Therefore, it is critical that we develop novel and highly effective
therapies to slow down and ultimately stop the development of diabetes.'

ABOUT DIABETES
Diabetes Mellitus is a chronic incapacitating disease associated with
severe life-long conditions such as cardiovascular diseases, kidney
diseases, nerve damage and eye diseases, which require intensive monitoring
and control. Diabetes is caused by relative or complete decrease in insulin
production and secretion by pancreatic beta cells. Furthermore, diabetes
can be caused by the reduced effectiveness of secreted insulin in
consequence of the gradual loss of insulin sensitivity of target cells
which is called insulin resistance. At present, there is no cure for
diabetes and only symptomatic treatment options are available. The most
common diabetes types are type 1 and type 2 diabetes. Currently, about
90-95% of diabetes patients worldwide have type 2 diabetes. According to
the International Diabetes Foundation, there are 371 million people
worldwide who are diagnosed with diabetes (2011: 366 million) and about 187
million who are at risk of costly and debilitating diabetes complications
who have not yet been diagnosed. It is estimated that about 4.8 million
people will have died from diabetes at the end of 2012 (2011: 4.0 million).
Concerning the diabetes market volume, approx. $471 bn were spent on the
treatment of diabetes in 2012 (2011: $465 bn).

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. We operate worldwide providing
the highest quality stand-alone and integrated drug discovery solutions,
covering all activities from target-to-clinic. 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, pain,
metabolic diseases as well as oncology and inflammation. Evotec has
long-term discovery alliances with partners including Bayer, Boehringer
Ingelheim, CHDI, Genentech, Medimmune/Astra Zeneca, Novartis, Ono
Pharmaceutical and Roche. In addition, the Company has existing development
partnerships and product candidates both in clinical and preclinical
development. These include a strategic alliance with Roche for the
development of subtype-selective NMDA receptor antagonists for use in
treatment-resistant depression as well as other partnerships with
Boehringer Ingelheim, MedImmune and with Andromeda (Teva) in the field of
diabetes. 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 report. 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:
Dr Cord Dohrmann, Chief Scientific Officer, Phone: +49.(0)551.50558650,
cord.dohrmann@evotec.com

End of Corporate News

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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: info@evotec.com
Internet: www.evotec.com
ISIN: DE0005664809
WKN: 566480
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart

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