- EVOTEC AND THE MARK FOUNDATION FORM FIRST COLLABORATION TOGETHER TO ADVANCE ONCOLOGY ASSETS BASED ON EVOTEC'S NEW ALLOSTERIC INHIBITOR PLATFORM "TARGETALLOMOD"
- THE COLLABORATION WILL ADVANCE THERAPEUTICS WITH A NOVEL MECHANISM OF ACTION AGAINST CLINICALLY VALIDATED AS WELL AS NOVEL IMMUNO-ONCOLOGY TARGETS
HAMBURG, GERMANY / ACCESSWIRE / March 26, 2019 / Evotec AG (FSE: EVT), (MDAX/TecDAX, ISIN: DE0005664809) and The Mark Foundation for Cancer Research today announced that they have entered into a research collaboration to discover and develop first-in-class therapeutics in oncology. The collaboration, for an initial period of two years, is based on Evotec's new proprietary drug discovery platform TargetAlloMod, which is focused on disrupting cell signalling via a novel mechanism of action. This approach is expected to deliver highly potent and more durable treatments for both clinically validated and novel immuno-oncology targets.
The Mark Foundation's focus of funding highly innovative oncology research and drug discovery is extremely well aligned with Evotec's mission to exploit novel platforms for the generation of first-in-class and clearly differentiated therapies. Under the terms of the agreement, The Mark Foundation will provide research funding to Evotec. Evotec will in turn be responsible for subsequent partnering of the programmes and/or the platform. The Mark Foundation will use its share of potential financial returns to expand its grant portfolio.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, said: "Evotec is very pleased to partner with The Mark Foundation, who is truly dedicated to accelerating potential cures for cancer by investing into promising new technology platforms and well-differentiated drug discovery projects. The support from The Mark Foundation allows us to engage multiple targets through a novel mechanism of action which is expected to deliver more potent but also more durable drug candidates."
Dr Michele Cleary, Chief Executive Officer of The Mark Foundation, said: "Our partnership with Evotec fits well with our goal of advancing early-stage therapeutic innovation. We are excited about the prospect of expanding the options for targeting some of the most challenging but important molecules in cancer immunology."
No financial details of the collaboration were disclosed.
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 THE MARK FOUNDATION FOR CANCER RESEARCH
The Mark Foundation for Cancer Research is dedicated to accelerating cures for cancer by integrating discoveries in biology with innovative technology. Launched in 2017, The Mark Foundation pursues its mission by funding a global portfolio of groundbreaking research carried out by individual investigators, multi-investigator teams, and inter-institutional collaborations. Recognizing the obstacles that can prevent scientific advances from improving patient outcomes, the mark foundation maintains a nimble, high-impact approach to funding research that encompasses grants for basic and translational cancer research, as well as venture philanthropy investment in companies that bridge the gap between the bench and the bedside. To learn more about the work of The Mark Foundation for Cancer Research, visit: https://themarkfoundation.org/
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, academics, patient advocacy groups and venture capitalists. We operate worldwide and our more than 2,600 employees provide the highest quality stand-alone and integrated drug discovery and development solutions. We cover all activities from target-to-clinic to meet the industry's need for innovation and efficiency in drug discovery and development (EVT Execute). 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 neuronal diseases, diabetes and complications of diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases and fibrosis. On this basis, Evotec has built a broad and deep pipeline of approx. 100 co-owned product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term alliances with partners including Bayer, Boehringer Ingelheim, Celgene, CHDI, Novartis, Novo Nordisk, Pfizer, Sanofi, Takeda, UCB and others. For additional information, please go to www.evotec.com and follow us on Twitter @EvotecAG.
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 Evotec AG:
Gabriele Hansen, VP Corporate Communications & Investor Relations, Phone: +49.(0)40.56081-255, gabriele.hansen@evotec.com
SOURCE: Evotec AGView source version on accesswire.com:
https://www.accesswire.com/540131/Evotec-And-The-Mark-Foundation-For-Cancer-Research-Announce-Strategic-Collaboration-In-Immuno-Oncology
