HAMBURG, Germany, Jan. 15, 2015 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) (ISIN:DE0005664809) today announced the achievement of several small, but very important milestones in its TargetAD collaboration with Janssen Pharmaceuticals, Inc. ("Janssen") for the identification and selection of novel targets from Evotec's TargetAD database and for the transition of targets into the drug discovery process. These milestones were reached in 2014 which will be recognised in the financial year 2014.
These selections were achieved under the agreement between Evotec and Janssen, facilitated by Johnson & Johnson Innovation LLC, signed in November 2013. Under the terms of the agreement, Janssen and Evotec continue to collaborate to develop new drugs for Alzheimer's disease.
Janssen has the option to internalize selected targets and therapeutic candidates and progress them into pre-clinical and clinical development. Janssen funds target drug discovery research via a combination of defined research payments and progress-related milestones.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "It was only in July 2014 that we announced the achievement of the first milestones in our TargetAD collaboration together with Janssen. The recent achievement of two further milestones further validates our approach and is a testament to a highly productive collaboration. I would like to congratulate the teams from both companies on the excellent progress and wish them continued success moving forward in their quest for innovative Alzheimer's disease therapies."
ABOUT EVOTEC'S TARGETAD DATABASE
The TargetAD database is a customized system providing unique information on the link between molecular and cellular changes in brain tissue with AD progression. This database was set up in a multi-year research programme, applying histological, cellular and in vivo target validation procedures. The database provides a strong foundation for systematic collaborative target validation and compound discovery programmes.
ABOUT ALZHEIMER'S DISEASE
Alzheimer's disease ("AD") is an irreversible, progressive brain disease and the main cause for dementia. It slowly destroys brain cells and nerves and thus disrupts the transmission in the brain, particularly those responsible for storing memories. In the course of AD, the brain shrinks as gaps develop in the temporal lobe and hippocampus, which are responsible for storing and retrieving new information. Beside degeneration of neurons, typical pathological hallmarks for AD are beta amyloid plaques and neurofibrillary tangles composed by Tau protein in the brain. The cause and progression of AD however are still not completely understood. Like other chronic conditions, scientists believe that AD doesn't have one predominant cause, but is rather a complex result of various factors. At the moment, there is no cure available for AD and most other causes for dementia. Current treatments only tackle the symptoms of the disease.
According to Alzheimer's Disease International, there were 44 million people diagnosed with dementia in 2013 worldwide. It is estimated that this number is going to increase to more than 135 million people in 2050. Approximately 7.7 million new cases of dementia are diagnosed each year. Concerning the dementia market volume, $ 604 bn were spent on the treatment of dementia in 2010. All in all, these costs equal about 1% of the world's GDP (average of GDP from countries worldwide).
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic. The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuroscience, pain, metabolic diseases as well as oncology, inflammation and infectious diseases. Evotec has long-term discovery alliances with partners including Bayer, Boehringer Ingelheim, CHDI, Genentech, Janssen Pharmaceuticals, MedImmune/AstraZeneca, Roche and UCB. In addition, the Company has existing development partnerships and product candidates both in clinical and pre-clinical development. These include partnerships with Boehringer Ingelheim and MedImmune in the field of diabetes, with Janssen Pharmaceuticals in the field of depression and with Roche in the field of Alzheimer's disease. For additional information please go to www.evotec.com.
FORWARD LOOKING STATEMENTS — Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.
CONTACT: For further information, please contact Gabriele Hansen VP, Corporate Communications & Investor Relations +49.(0)40.560 81-255 +49.(0)40.560 81-333 Fax firstname.lastname@example.org Evotec AG Manfred Eigen Campus Essener Bogen 7 22419 Hamburg (Germany)Source:Evotec AG