Evotec Enters a Drug Discovery Collaboration with Janssen

Rhea-AI Summary

Evotec SE has announced a strategic drug discovery collaboration with Janssen Pharmaceutica NV to explore novel therapeutic candidates via its TargetAlloMod platform. This partnership aims for high-potential cell surface drug targets within various therapeutic areas. Besides research funding, Evotec stands to gain approximately €210 million per project in success-based milestones and tiered royalties on resultant products. The collaboration highlights Evotec's innovative strengths and commitment to delivering effective therapeutics.

Positive

• Collaboration with Janssen expected to enhance drug discovery capabilities.
• Potential for up to €210 million in success-based milestones per project.
• Leveraging proprietary TargetAlloMod platform for novel therapeutic candidates.

Negative

• None.

• STRATEGIC PARTNERSHIP LEVERAGES EVOTEC'S PROPRIETARY PLATFORM CAPABILITIES IN THE FIELD OF PROTEIN HOMEOSTASIS

HAMBURG, GERMANY / ACCESSWIRE / June 14, 2022 / Evotec SE (FRA:EVT)(MDAX/TecDAX)(ISIN:DE0005664809)(NASDAQ:EVO) announced today that the Company has entered a drug discovery collaboration with Janssen Pharmaceutica NV, one of the Janssen Pharmaceutical Companies of Johnson & Johnson ("Janssen"). Evotec's innovative TargetAlloMod platforms will be evaluated to discover first-in-class novel mode of action therapeutic candidates. The agreement was facilitated by Johnson & Johnson Innovation.

Under the agreement, Evotec and Janssen will jointly conduct screens on the identified targets and collaborate with hit identification and lead optimisation of the most promising chemical assets, leveraging Evotec's end-to-end integrated drug discovery and development platform.

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are very proud to enter into this collaboration to explore unique approaches to high potential cell surface drug targets with novel therapeutic modalities and to deliver and make innovative therapeutic options available to patients."

Besides research funding, Evotec is entitled to success-based research and commercial milestones up to approximately € 210 m per project as well as tiered royalties on products resulting from this collaboration.

About TargetAlloMod

Scientists at Evotec have discovered that for certain extracellular receptors, small molecules can bind allosterically and induce a natural proteolytic cleavage process to shed the ectodomain. This results in the disruption of cell signalling and the shed ectodomain can, in many cases, further act as a sink for the native ligand of the targeted receptor. The TargetAlloMod platform comprises a suite of proprietary assay principles and computational tools to assess and screen extracellular receptor targets for shedding and the induction of shedding by small molecule allosteric modulators. This platform has broad applicability across many therapeutic areas.

ABOUT EVOTEC SE

Evotec is a life science company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and make them available to the patients. The Company's multimodality platform comprises a unique combination of innovative technologies, data and science for the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. Evotec leverages this "Data-driven R&D Autobahn to Cures" for proprietary projects and within a network of partners including all Top 20 Pharma and over 800 biotechnology companies, academic institutions, as well as other healthcare stakeholders. Evotec has strategic activities in a broad range of currently underserved therapeutic areas, including e.g. neurology, oncology, as well as metabolic and infectious diseases. Within these areas of expertise, Evotec aims to create the world-leading co-owned pipeline for innovative therapeutics and has to-date established a portfolio of more than 200 proprietary and co-owned R&D projects from early discovery to clinical development. Evotec operates globally with more than 4,200 highly qualified people. The Company's 15 sites offer highly synergistic technologies and services and operate as complementary clusters of excellence. For additional information please go to www.evotec.com and follow us on Twitter @Evotec and LinkedIn.

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements concerning future events, including the proposed offering and listing of Evotec's securities. Words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "should," "target," "would" and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding comments regarding Evotec's expectations for revenues, Group EBITDA and unpartnered R&D expenses. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Evotec at the time these statements were made. No assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Evotec. Evotec expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Evotec's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Media Contact Evotec SE:
Gabriele Hansen, SVP Head of Global Corporate Communications & Marketing, Phone: +49.(0)40.56081-255, gabriele.hansen@evotec.com

IR Contact Evotec SE:
Volker Braun, SVP Head of Global Investor Relations & ESG, Phone: +49.(0)40.56081-775, volker.braun@evotec.com

SOURCE: Evotec SE

View source version on accesswire.com:
https://www.accesswire.com/705018/Evotec-Enters-a-Drug-Discovery-Collaboration-with-Janssen

FAQ

What is the collaboration between Evotec and Janssen about?

Evotec has entered a drug discovery collaboration with Janssen Pharmaceutica NV to explore novel therapeutic candidates using its TargetAlloMod platform.

How much funding could Evotec receive from the Janssen partnership?

Evotec could receive approximately €210 million in success-based research and commercial milestones per project from the collaboration.

What is the Target<i>AlloMod</i> platform used for?

The TargetAlloMod platform is designed to assess and screen extracellular receptor targets for drug discovery, focusing on allosteric modulation.

When was the collaboration between Evotec and Janssen announced?

The collaboration announcement was made on June 14, 2022.

What therapeutic areas does the Evotec and Janssen collaboration target?

The collaboration aims to explore high-potential drug targets across various therapeutic areas.