Evotec has achieved a milestone in its research alliance with Boehringer Ingelheim, triggering a payment of $3.3 million. The milestone was achieved for the identification and selection of a compound to be advanced into extended profiling prior to pre-clinical development within an oncology programme. This was the fourth milestone achieved in 2011 and represents a total of $14.5 million of milestones achieved within that year.
Dr Mario Polywka, chief operating officer of Evotec, commented, "This is the fifth milestone achieved against an oncology target within our collaboration with Boehringer Ingelheim. Evotec values this collaboration very highly and both companies continue to enjoy a fruitful scientific and working relationship as we drive important new drug candidates to the clinic."
In 2004, Evotec entered into a multi-year, multi-target drug discovery alliance with Boehringer Ingelheim to jointly identify and develop preclinical development candidates for the treatment of various disease areas including CNS, inflammation, cardiometabolic and respiratory diseases. In 2009, the collaboration was extended for an additional four years and the scope expanded to include oncology targets. BI has full ownership and global responsibility for clinical development, manufacturing and commercialization of the compounds identified, while Evotec receives ongoing research payments and preclinical milestones, as well as potential development milestones and royalties.