HAMBURG, Germany, Feb. 15, 2011 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced that it has entered into a collaboration with ChemBridge to further enhance its screening library. This collaboration demonstrates Evotec's continued improvement to its industry leading hit identification platform.
Evotec's library of 250,000 drug-like and lead-like compounds is available to clients for screening and differentiated itself from other screening libraries through quality, diversity and novelty. Through this collaboration, Evotec will increase its high throughput screening collection through the addition of initially 110,000 diverse and lead-like compounds from the ChemBridge Library Collection. These new compounds complement the chemical diversity of Evotec's existing collection and will further enhance the quality of the hits provided to our partners.
Dr Mario Polywka, Chief Operating Officer at Evotec, stated: "We are happy to partner with ChemBridge on the expansion of Evotec's high throughput screening collection. This collaboration coupled with our continued investment in our world leading, hit-identification platform will allow Evotec to maintain our market leadership and continue to provide high quality hit compounds to our clients."
Mr. Eugene Vaisberg, Chief Executive Officer at ChemBridge, commented: "We are pleased to have this opportunity to work with Evotec. This alliance will allow ChemBridge to expand the reach of its renowned small molecule screening library via Evotec's industry leading hit- identification platform."
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.
ChemBridge Corporation is a leading global discovery chemistry company providing small molecule screening compound libraries, specialty building blocks for organic synthesis and custom chemistry services. ChemBridge is a San Diego based company with an impeccable 18 year track record of quality and deliverability and operates a state-of-the-art offshore discovery chemistry research site in Moscow, Russia. ChemBridge's CRO business includes multi-year strategic alliances with major pharmaceutical companies as well as mid-size pharmaceutical and biotech companies. Over 500 pharmaceutical and biotech companies and universities worldwide have also taken advantage of ChemBridge's portfolio of products, including its library of 13,000 specialty building blocks and 800,000 drug-like and lead-like small molecule screening compounds. For additional information please go to
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 expected 2010 financial results and financial growth in 2011, our anticipated financing needs, 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.
CONTACT: Dr. Werner Lanthaler Chief Executive Officer +49.(0)40.560 81-242 +49.(0)40.560 81-333 Fax email@example.com Evotec AG Schnackenburgallee 114 22525 Hamburg (Germany)