Evotec AG has received a milestone in its research alliance with Boehringer Ingelheim, triggering a payment of $5.3 million to Evotec. The milestone was for the transition of a respiratory program into preclinical development.
Dr. Mario Polywka, Evotec's chief operating officer, commented, "This is the 16th milestone achieved as part of our alliance with Boehringer Ingelheim and represents an important transition of this program into preclinical development. The alliance continues to achieve significant scientific and commercial success, reflecting the truly collaborative efforts of teams from Evotec and Boehringer Ingelheim."
The companies entered a multi-year, multi-target drug discovery alliance in 2004 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. Under the terms of the agreement, BI has full ownership and global responsibility for clinical development, manufacturing and commercialization of the compounds identified. Evotec receives ongoing research payments and preclinical milestones, as well as substantial potential payments for successful milestone achievements during clinical development and royalties when new drugs reach the market.