HAMBURG, Germany, Oct. 27, 2011 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced the achievement of specific success criteria in a multiple target drug discovery collaboration with Shionogi & Co Ltd. and the receipt of two milestone payments. Evotec and Shionogi will continue to collaborate to progress the fragments through the drug discovery process.
The collaboration was initiated in October 2010 to identify small molecule modulators of various protein-protein interaction targets selected by Shionogi. Evotec has applied its proprietary and integrated fragment-based drug discovery platform EVOlutionSM to the selected targets. Active fragments have been further characterised by X-ray crystallography to obtain structural information to aid selection of the best fragment optimization strategy. A team of medicinal chemists, biologists, computational chemists and structural biologists will in close collaboration with Shionogi progress the molecules through the fragment to lead and lead optimization stages.
Dr Mario Polywka, Chief Operating Officer of Evotec, commented: "We are extremely proud that we havereached our first project milestones with Shionogi. This is further validation of our expertise and capabilities in fragment-based drug discovery and we look forward to further supporting Shionogi in the discovery of novel therapeutics."
No financial details are disclosed.
ABOUT EVOLUTIONSM
EVOlutionSM is Evotec's fragment-based drug discovery platform which combines biochemical and biophysical techniques including nuclear magnetic resonance (NMR), surface plasmon resonance (SPR) and X-ray crystallography for the screening of low molecular weight compounds and characterization of the fragment hits. By the combination of the orthogonal screening technologies, Evotec's fragment screening platform is capable of screening a more diverse set of biological targets than other fragment screening approaches, as well as being able to screen the fragments in a high-throughput mode. The benefit of this is the ability to identify active fragments for numerous classes of biological targets in a short timeframe. For further information, please refer to:
evotec.com/fragment-based drug discovery
ABOUT FRAGMENT-BASED DRUG DISCOVERY
Fragment-based drug discovery (FBDD) is a drug discovery strategy that utilises small molecules - fragments of more complex molecules - to generate efficient starting points for drug discovery. This approach thus provides the opportunity to effectively manage the molecular weight and overall complexity of drug candidates, a recognised success factor in drug development.
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 Boehringer Ingelheim, CHDI, Genentech, Medimmune/Astra Zeneca, Novartis and Ono Pharmaceutical. In addition, the Company has existing development partnerships and product candidates both in clinical and preclinical development. These include partnerships with Boehringer Ingelheim, MedImmune and Andromeda (Teva) in the field of diabetes, and with Roche in the field of Alzheimer's disease. For additional information please go to http://www.evotec.com/">www.evotec.com.
ABOUT SHIONOGI
For further information about Shionogi, please visit www.shionogi.co.jp
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.