This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Evotec And Bayer Enter Into Multi-Target Alliance To Fight Endometriosis

HAMBURG, Germany, Oct. 1, 2012 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) today announced that Evotec and Bayer Pharma AG have entered into a five-year, multi-target collaboration with the goal of developing three clinical candidates for the treatment of endometriosis. Both parties will contribute innovative drug targets and high quality technology infrastructures and will share the responsibility for early research and pre-clinical characterisation of potential clinical candidates in the disease area of endometriosis.

Bayer will be responsible for any subsequent clinical development and commercialisation. Evotec will receive EUR 12 million as an upfront payment. Evotec may also receive additional pre-clinical, clinical and sales milestones of potentially up to approximately Euro 580 million, plus potential royalties of up to low double digit percent of net sales, depending on which party brought the compound to the collaboration and the successful development and approval of potential drug candidates.

Dr Werner Lanthaler, Chief Executive Officer of Evotec, commented: "Women with endometriosis may experience excruciating and chronic pain. Because endometriosis affects women in childbearing age, there is an incredible need for new, non-surgical treatments that will preserve fertility and alleviate pain. Evotec brings into this collaboration potential drug candidates and its extensive know-how in the area of chronic pain. We look forward to joining forces with Bayer in what we believe is a very promising and comprehensive effort to tackle this significant issue in women's health."

"Endometriosis is a disease with insufficient treatment options today for women who suffer from this painful condition. It is one of Bayer's strategic research indications and our new collaboration with Evotec will perfectly complement our activities in this field of high unmet medical need," said Prof Andreas Busch, Member of the Bayer HealthCare Executive Committee and Head of Global Drug Discovery. "We look forward to working with Evotec's team on the development of novel drug candidates."

About Endometriosis

Endometriosis affects an estimated 176 million women worldwide or 10% of women of reproductive age. It is caused by the abnormal growth of tissue similar to that which lines the uterus (endometrial tissue) in locations outside of the uterine cavity, where it causes ectopic lesion growth and debilitating pain. Endometrial growth is commonly found on the ovaries and pelvic peritoneum, potentially involving other organs of the pelvic cavity as e.g. bladder, bowel, and the rectovaginal space.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs