Evotec and Roche to Develop EVT 101 for Treatment-Resistant Depression

Evotec AG (Frankfurt Stock Exchange: EVT; NASDAQ: EVTC) and Roche (SWX: RO, ROG; OTCQX: RHHBY) announced today that they have entered into an agreement for Phase II clinical development of EVT 101 in patients with treatment-resistant depression. The potential value of this transaction exceeds US$300 million.

Evotec will be responsible for conducting Phase II studies for EVT 101, a compound originally discovered by Roche and developed from discovery stages through clinical studies by Evotec.

Eugene Tierney, Head of CNS at Roche, said: “Our aim is to alleviate the suffering of the many patients with treatment-resistant depression. As many as one in three depressed patients are not adequately treated by currently available medicines. We believe that EVT 101 has the potential to become an effective new therapy for the high unmet need of these patients.”

Evotec will also conduct Phase I safety and tolerability studies for EVT 103, a next generation compound to EVT 101. Roche will fully fund these development programs. In addition, for the option to buy back rights to the entire EVT 100 family of compounds, Roche has agreed to pay Evotec an upfront fee of US$10million.

Dr Klaus Maleck, Chief Financial Officer of Evotec, said: “This product development agreement with Roche is clear evidence of the value Evotec has created with the EVT 100 compound family over the past few years, benefiting patients and, ultimately, shareholders. We are delighted to enter into this partnership with Roche, providing obvious benefits to both parties.”

Terms of the Agreement
This agreement covers possible development of the entire EVT 100 family of compounds, with a total potential deal value exceeding US$300million.

Roche has committed to fund clinical development of EVT 101, as well as EVT 103, the follow-on compound to EVT 101.

If Roche exercises its buy-back option after the completion of the Phase II study, Evotec will receive a US$65million lump-sum payment from Roche in exchange for returning the asset, as well as the entire EVT 100 family to Roche. Evotec would be eligible for further development, sales performance, and scalable double-digit commercial payments.

In the event that Roche decides not to exercise its buy-back option, Evotec will be granted exclusive worldwide rights to the entire EVT 100 family of compounds. Evotec will then get rights to all indications under revised terms from the original contract signed between Evotec and Roche at the end of 2003.

Evotec AG

Evotec AG
Neuroscience drug development

Website
www.evotec.com

Downloads

DownloadFull Press Release

Latest News

Alliance Pharma acquires Nizoral rights in APAC region

Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, is pleased to announce that it has agreed to acquire exclusive marketing rights to Nizoral, a medical, anti-dandruff shampoo brand, in Asia-Pacific from Janssen Pharmaceutica NV.

Alliance Pharma receives positive opinion for Diclectin

Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, announces that, following discussions with the Medicines and Healthcare products Regulatory Agency and the Commission on Human Medicines, the Marketing Authorisation Application for Diclectin® is now considered approvable.

Wilson Therapeutics AB announces public offer from Alexion Pharmaceuticals

Alexion Pharmaceuticals, Inc., has today, through Alexion Pharma Nordics Holding AB, announced a public cash offer to Wilson Therapeutics’ shareholders for a consideration of SEK 232 per Wilson Therapeutics share in cash (the “Offer”), which corresponds to a total offer value of approximately SEK 6,564 million, based on 28,292,272 shares outstanding.

Clinical study supports the use of Cheetah Medical's technologies

Cheetah Medical, a leader in non-invasive hemodynamic monitoring, has announced the publication of a major clinical study designed to evaluate stroke volume guided resuscitation in ICU patients with severe sepsis and septic shock

Vertos Medical Secures $28m in Latest Round of Funding

Vertos Medical Inc., a leader in the minimally invasive treatment of lumbar spinal stenosis has announced that it has completed a $28 million financing round.

VitalConnect Announces Closure of $33m Series C Financing

VitalConnect, a leader in medical-grade wearable biosensor systems, has announced that it has closed a Series C Preferred Stock equity financing round of $33 million led by new investors MVM Life Science Partners and Baxter.