Evotec And Celgene Enter Partnership In The Field Of Targeted Protein Degradation
Thursday, September 6, 2018 1:17 AM
- THE COLLABORATION WILL FOCUS ON TARGETED PROTEIN DEGRADATION
- EVOTEC'S PANOMICS AND DATA ANALYTICS PLATFORMS WILL BE LEVERAGED
- FINANCIALS INCLUDE UPFRONT PAYMENT AS WELL AS SIGNIFICANT POTENTIAL MILESTONE-BASED PAYMENTS AND ROYALTIES
HAMBURG, GERMANY / ACCESSWIRE / September 6, 2018 / Evotec AG (FSE: EVT) (XETRA: EVT) (OTC PINK: EVTCY), (TecDAX, ISIN: DE0005664809) announced today that Evotec and Celgene Corporation ("Celgene") have entered into a third long-term strategic drug discovery and development partnership in the field of targeted protein degradation.
In this collaboration, Evotec and Celgene will leverage Evotec's Panomics platform in order to identify drug targets which are traditionally difficult to track. Evotec's Panomics platform applies in particular high-end proteomics and transcriptomics at industrial scale to profile and select promising drug candidates on the basis of comprehensive cell biological profiles. Evotec's Panomics platform also includes an integrated data analytics platform, "PanHunter", which facilitates the analysis and interpretation of large 'omics' data sets.
The collaboration will leverage the state-of-the-art proteomics expertise of Evotec scientists at the sites in Munich, Germany, and Toulouse, France. Under the terms of the agreement, Evotec will receive an undisclosed upfront payment as well as significant milestone-based payments and tiered potentially double-digit royalties on each licensed programme. Celgene holds exclusive rights for all programmes arising from this collaboration.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are very excited to enter into this third partnership with Celgene, opening opportunities to expand beyond neurodegeneration and oncology. Addressing traditionally undrugable targets via targeted protein degradation is a highly attractive and promising approach which has not been explored systematically."
Panomics involves the innovative use of genomics, transcriptomics and proteomics data in an integrated fashion. Evotec has established high-throughput transcriptomics and proteomics technologies, which can be used as unbiased read-outs in drug discovery and development. This includes "PanHunter", a proprietary, integrated, user-centred bioinformatics platform for panomics data analysis.
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 and our more than 2,400 employees provide the highest quality stand-alone and integrated drug discovery and development solutions. We cover all activities from target-to-clinic to meet the industry's need for innovation and efficiency in drug discovery and development (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 neuronal diseases, diabetes and complications of diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases and fibrosis. On this basis, Evotec has built a broad and deep pipeline of approx. 100 co-owned product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term alliances with partners including Bayer, Boehringer Ingelheim, Celgene, CHDI, Novartis, Novo Nordisk, Pfizer, Sanofi, Takeda, UCB and others. For additional information please go to www.evotec.com and follow us on Twitter @EvotecAG.
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]
SOURCE: Evotec AG