Evotec Receives € 7.5 m Grant for Development of COVID-19 Therapeutic

Rhea-AI Summary

Evotec announced it has received a €7.5 million grant from the German Federal Ministry of Education and Research to develop EVT075, a potential first-in-class immunomodulatory therapy targeting COVID-19. This funding aims to facilitate clinical studies assessing the safety and efficacy of the compound, which has shown promising results against SARS-CoV-2 in pre-clinical studies. The therapy aims to amplify the immune response and reduce hospitalizations related to COVID-19.

Positive

• Secured a €7.5 million grant for developing EVT075, indicating strong support for COVID-19 therapeutics.
• Potential to amplify immune response and significantly reduce hospitalizations associated with COVID-19.

Negative

• None.

• EVOTEC RECEIVES A € 7.5 M GRANT FROM THE GERMAN FEDERAL MINISTRY OF EDUCATION AND RESEARCH ("BMBF") FOR THE DEVELOPMENT OF A THERAPEUTIC AGAINST COVID-19
• EVOTEC IS DEVELOPING A HIGHLY POTENT IMMUNOMODULATORY MOLECULE THAT HOLDS THE POTENTIAL TO AMPLIFY THE IMMUNE RESPONSE AND REDUCE THE RISK OF DIFFICULT DISEASE PROGRESSION AND HOSPITALISATION

HAMBURG, GERMANY / ACCESSWIRE / January 3, 2022 / Evotec SE (Frankfurt Stock Exchange:EVT) MDAX/TecDAX, ISIN: DE0005664809 (NASDAQ:EVO) announced today that the Company has been selected by the German Federal Ministry of Education and Research ("BMBF") to receive a grant for the development of EVT075, a potential first-in-class immunomodulatory therapy against COVID-19. Evotec is one of three companies receiving a highly competitive grant as part of a new initiative by the BMBF to support the clinical development of novel therapeutic candidates against COVID-19.

Under the € 7.5 m grant, Evotec will use clinical material manufactured within its Just - Evotec Biologics manufacturing platform to initiate the clinical development of a potentially highly potent immunomodulatory molecule. Utilising the assays developed as part of the Company's global Pandemic Preparedness and Rapid Response initiative "PRROTECT", Evotec has demonstrated potent activity of the molecule in pre-clinical in-vitro studies. The molecule has shown great potential to produce a powerful antiviral response against infections with SARS-CoV-2 ("coronavirus"). By amplifying the immune response against coronavirus infections, the molecule can potentially reduce the viral load. Thus, the early administration of this biologic may significantly lower the risk of a severe progression of COVID-19 that requires hospitalisation of patients.

Evotec intends to use the grant to initiate clinical studies assessing the safety and efficacy of the compound and to determine the optimal dose-range in healthy volunteers as well as COVID-19 patients.

Dr Werner Lanthaler, Chief Executive Officer of Evotec, commented: "As we enter the third year of the COVID-19 pandemic, it has become apparent that besides continuing to build up immunity by way of vaccinations, effective therapeutics against the disease are also urgently needed. By amplifying the immune response and lowering the viral load, the molecule can help reduce the share of people requiring inpatient treatment, and thus the enormous strain the pandemic is putting on the global health systems. Having leveraged our pandemic preparedness platform 'PRROTECT', we are excited to use the grant from the BMBF to bring a potential COVID-19 therapeutic into the clinic."

About PRROTECT

To prepare against future pandemics, Evotec has initiated the global networking initiative PRROTECT (pandemic Preparedness and Rapid RespOnse TEChnology PlaTform). PRROTECT builds on Evotec's existing anti-viral therapeutics portfolio and leverages the Company's platform to further broaden its existing modality-agnostic pipeline against viral threats, while at the same time accelerating R&D timelines for neutralising antibodies, and creating a flexible manufacturing network to deliver such therapeutics in the event of a future pandemic.

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 4,000 highly qualified people. The Company's 14 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 completion of the offering. 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 AG

View source version on accesswire.com:
https://www.accesswire.com/680587/Evotec-Receives-75-m-Grant-for-Development-of-COVID-19-Therapeutic

FAQ

What is the purpose of the €7.5 million grant received by Evotec?

The grant will support the development of EVT075, an immunomodulatory therapy targeting COVID-19.

What is EVT075?

EVT075 is a potential first-in-class immunomodulatory molecule aimed at enhancing immune response to COVID-19.

How will the grant impact Evotec's clinical development?

The grant will enable Evotec to initiate clinical studies to assess the safety and efficacy of EVT075.

What results have been observed in pre-clinical studies of EVT075?

Pre-clinical studies have shown EVT075 to have potent antiviral activity against SARS-CoV-2.

What is the significance of Evotec's PRROTECT initiative?

PRROTECT aims to enhance pandemic preparedness by facilitating the development of antiviral therapeutics.