updated 5/25/2011 1:46:01 AM ET 2011-05-25T05:46:01

HAMBURG, Germany, May 25, 2011 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced that it has entered into a strategic alliance with PsychoGenics Inc. to provide integrated CNS drug discovery solutions to pharmaceutical and biotech companies. The two companies will work together in a seamless fashion to provide existing and new clients access to their complementary drug discovery platforms for the identification and development of new therapeutics to treat CNS disorders.

Evotec is the premier provider of drug discovery alliances to the pharmaceutical industry based on its state-of-the-art technology platform and broad range of integrated capabilities. Evotec has therapeutic area expertise in metabolic disease, CNS, pain, inflammation and oncology and differentiates itself based on a strong track record in drug discovery, scientists with many years experience in the industry and an innovative technology platform.

PsychoGenics is a leader in preclinical neurobiology applied to CNS and pain drug discovery and development. Its extensive capabilities coupled with its proprietary, high-throughput behavioral testing platforms that employ cutting edge bioinformatics allows the rapid screening and optimization of compounds for CNS activity. These proprietary platforms are used for the characterization of drugs, the phenotyping of disease models and the multi-dimensional testing of drugs in disease models.

Dr Mario Polywka, Chief Operating Officer at Evotec stated: "By bringing together the industry leading CNS drug discovery platforms of Evotec and PsychoGenics, our clients and partners will benefit through an increased probability of success and faster and more informed decision making in their drug discovery efforts with the goal of delivering pre-clinical candidates in the most time and cost efficient manner."

Dr Emer Leahy, President and CEO of PsychoGenics explained: "We are delighted to enter into this collaboration with Evotec, an innovative leader in drug discovery. PsychoGenics and Evotec each have a long-standing history of successful partnerships in which they share discovery risk with pharmaceutical companies, and have delivered several pre-clinical candidates. Now, by combining forces, partners have the opportunity to avail themselves of fully-integrated and proprietary capabilities to drive and transform their CNS discovery programs and lower their overall risk."

No financial details are disclosed.

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. The Company operates worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic. Evotec 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, oncology and inflammation. Evotec has established long-term discovery alliances with partners including Boehringer Ingelheim, CHDI, Genentech, Medimmune/Astra Zeneca, Novartis, Ono Pharmaceutical and Roche. 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 with Andromeda (Teva) in the field of diabetes. For additional information please go to www.evotec.com .

ABOUT PSYCHOGENICS INC.

PsychoGenics, based in Tarrytown, New York, is a leader in preclinical behavioral neurobiology. The Company applies its behavioral expertise together with advances in robotics, computer vision, and informatics to provide innovative solutions for CNS drug discovery. PsychoGenics works with pharmaceutical and biotechnology companies, academic institutions, and not-for-profit research foundations to help discover treatments for such major neurological and psychiatric disorders as: ALS, anxiety, cognitive impairment, depression, Huntington´s Disease, psychosis/schizophrenia, and Spinal Muscular Atrophy (SMA). PsychoGenics has ongoing relationships with Roche, Lilly, CHDI, SMA Foundation and others For more information about PsychoGenics please visit www.psychogenics.com

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.

CONTACT: Dr Werner Lanthaler
         Chief Executive Officer
         +49.(0)40.560 81-242
         +49.(0)40.560 81-333 Fax
         werner.lanthaler@evotec.com
         
         Evotec AG
         Schnackenburgallee 114
         22525 Hamburg (Germany)

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 2.79%
$30K home equity loan FICO 5.78%
$75K home equity loan FICO 4.54%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.57%
13.57%
Cash Back Cards 17.91%
17.91%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com