updated 10/27/2010 5:45:30 AM ET 2010-10-27T09:45:30

HAMBURG, Germany, Oct. 27, 2010 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced that it has entered into a collaboration with Apeiron Biologics AG, to initially identify small molecule modulators of DREAM (Downstream Regulatory Element Antagonistic Modulator), a novel target involved in perception of various pain mechanisms. Further projects will be evaluated to potentially expand this cooperation in due course.

Evotec will apply, in a first instance, its expertise in cellular assay development with opportunities for the project to rapidly move into hit identification and beyond.

Dr Hans Loibner, Chief Executive Officer at Apeiron Biologics, commented: "Combining our two companies' skills is an excellent way to move forward with this innovative and promising project. We have worked with Evotec in the past and continue to be impressed by the quality of the work performed there."

Dr Werner Lanthaler, Chief Executive Officer at Evotec, stated: "Apeiron is certainly one of the most exciting young biotech companies in Europe. We are happy that through the optimal use of R&D outsourcing Evotec can add value here."

No financial details are disclosed.

ABOUT EVOTEC AG

Evotec is a leader in the discovery and development of novel small molecule drugs with operational sites in Europe and Asia. The Company has built substantial drug discovery expertise and an industrialised platform that can drive new innovative small molecule compounds into the clinic. In addition, Evotec has built a deep internal knowledge base in the treatment of diseases related to neuroscience, pain, oncology, inflammation and metabolic diseases. Leveraging these skills and expertise the Company intends to develop best-in-class differentiated therapeutics and deliver superior science-driven discovery alliances with pharmaceutical and biotechnology companies. Evotec has long-term discovery alliances with partners including Boehringer Ingelheim, CHDI, Genentech, Novartis, Ono Pharmaceutical and Roche. Evotec has product candidates in clinical development and a series of preclinical compounds and development partnerships, including for example a strategic alliance with Roche for the EVT 100 compound family, subtype selective NMDA receptor antagonists for use in treatment-resistant depression and an alliance in the field of diabetes with Andromeda (Teva). For additional information please go to www.evotec.com.

ABOUT APEIRON BIOLOGICS AG

Apeiron is a privately financed Biotech company and develops biological drugs applying state-of-the-art technologies and completely novel approaches. Recombinant human Angiotensin Converting Enzyme 2 has been generated to treat Acute Respiratory Distress Syndrome and a variety of other diseases with an imbalanced Renin Angiotensin System. The project was developed until end Phase I and out-licensed to GlaxoSmithKline in early 2010. Further projects focus on the exploration of approaches to interfere with DREAM, an important pain regulator, and Cbl-b, a key target protein for improving immune reactivity against cancer. Currently, building on the existing set of innovative in-house projects, Apeiron intents to broaden its product portfolio and by in-licensing innovative immunological/biological approaches to treat various cancers and other conditions. For additional information please go to www.apeiron-biologics.com .

ABOUT DREAM

Downstream Regulatory Element Antagonistic Modulator (DREAM) is a key molecule for pain regulation: By binding on the respective DNA-promoter region, DREAM inhibits the synthesis of the endogenous opioid precursor prodynorphin and therefore may represent a new target for the treatment of pain. As shown by DREAM knock-out mice, loss of DREAM broadly reduces pain, ranging from acute chemical, heat, or mechanical to internal, inflammatory, and chronic neuropathic pain.

Substances that release DREAM from the respective DNA and thereby activate the synthesis of the endogenous opioid precursor prodynorphin in essence are not analgesics per se, but trigger the production of endogenous opioids in the treated individual. Following high throughput screening and hit optimization, a first set of compounds already has been identified that selectively release bound DREAM from the respective DNA motif.

FORWARD-LOOKING STATEMENTS — Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about our 2010 financial outlook and our expected financial results in future quarters, our revised revenue guidance for 2010 and expected revenue growth, our ability to deliver on our liquidity guidance, our belief that we are on course to sustainable profitability latest in 2012, our expectations and assumptions concerning regulatory, clinical and business strategies, the progress of our clinical development programmes and timing of the commencement and results of our clinical trials, strategic collaborations and management's plans, objectives and strategies. These 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. In particular, the risks and uncertainties include, among other things: risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured; the risk that we will not achieve the anticipated benefits of our collaborations, partnerships and acquisitions in the timeframes expected, or at all; risks relating to our ability to advance the development of product candidates currently in the pipeline or in clinical trials; our inability to further identify, develop and achieve commercial success for new products and technologies; the risk that competing products may be more successful; our inability to interest potential partners in our technologies and products; our inability to achieve commercial success for our products and technologies; our inability to protect our intellectual property and the cost of enforcing or defending our intellectual property rights; our failure to comply with regulations relating to our products and product candidates, including FDA requirements; the risk that the FDA may interpret the results of our studies differently than we have; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully secure regulatory approval of and market our drug candidates; and risks of new, changing and competitive technologies and regulations in the U.S. and internationally.

The list of risks above is not exhaustive. Our most recent Annual Report on Form 20-F, filed with the Securities and Exchange Commission, and other documents filed with, or furnished to the Securities and Exchange Commission, contain additional factors that could impact our businesses and financial performance. 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.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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