Evotec AG and Aspireo Pharmaceuticals have entered into a strategic advisory agreement to support the development and partnering of Aspireo's Somatoprim (DG3173), a new molecular entity analogue currently in Phase I development. Somatostatin analogues have been approved for the treatment of acromegaly, carcinoid tumors, and Cushing's disease, and have demonstrated significant potential in diabetic retinopathy.
Evotec will provide strategic and operational advice on the partnering of Somatoprim, and will consult Aspireo on clinical and preclinical development. Evotec will retain advisory fees and is eligible for payments based on the success of Somatoprim.
Dr. Werner Lanthaler, chief executive officer of Evotec, said, "This agreement marks a new business model for asset-centric biotech companies that want to combine capital efficiency with access to high-quality and often very specialized preclinical, clinical, regulatory and commercial expertise. Aspireo is a pioneer in pursuing a model of extreme capital efficiency while not compromising on quality and speed. We are excited to advise and support Aspireo in its partnering efforts for Somatoprim."