Evotec receives $5.4 million milestone payment from Boehringer Ingelheim
Evotec’s research alliance with Boehringer Ingelheim has reached a milestone in September triggering revenues of $5.4 million to Evotec. The milestone was for the transition of an oncology molecule into pre-clinical development.
Dr. Mario Polywka, chief operating officer of Evotec, said, "This is the twentieth milestone achieved as part of our alliance with Boehringer Ingelheim and represents a second oncology compound transitioning into preclinical development.”
In 2004, Evotec entered into a multi-year, multi-target drug discovery alliance with Boehringer Ingelheim to jointly identify and develop preclinical development candidates for the treatment of various disease areas including CNS, inflammation, cardiometabolic and respiratory diseases. In 2009, the collaboration was extended for an additional four years and the scope expanded to include oncology targets. Boehringer Ingelheim has full ownership and global responsibility for clinical development, manufacturing and commercialization of the compounds identified. In return, Evotec receives ongoing research payments and preclinical milestones.