Evotec and Related Sciences Expand Integrated Drug Discovery and Development Partnership
News provided byACCESSWIRE
Feb 09, 2023, 2:00 AM ET
- EVOTEC AND RELATED SCIENCES COLLABORATE BY COMBINING COMPLEMENTARY CAPABILITIES TO ADVANCE PORTFOLIOS OF TRANSFORMATIONAL NEW MEDICINES
- THE PARTNERSHIP OVERSEES A GROWING PORTFOLIO OF MORE THAN 15 MULTI-MODALITY DRUG DISCOVERY PROGRAMMES
- EXTENSION AND EXPANSION THROUGH 2030 TO INCLUDE EVOTEC'S INDUSTRY-LEADING CAPABILITIES IN THE DISCOVERY OF COVALENT INHIBITORS
HAMBURG, GERMANY / ACCESSWIRE / February 9, 2023 / Evotec SE (Frankfurt Stock Exchange:EVT)(MDAX/TecDAX, ISIN: DE0005664809)(NASDAQ:EVO) announced today that the Company has extended and expanded its integrated multi-target drug discovery agreement with data-driven biotech creation firm, Related Sciences ("RS"), to continue to grow their joint portfolio of drug development candidates through 2030, leveraging Evotec's industry-leading capabilities across the full R&D continuum.
Launched in early 2021, the Evotec-RS partnership brings together a unique set of complementary capabilities to efficiently select, discover, and develop new, precisely targeted medicines for unmet patient needs. By combining RS' unique Facets TM opportunity selection engine and decentralised team science model, with Evotec's comprehensive platform of integrated drug discovery services and advanced A.I./M.L. capabilities, the parties jointly progress large portfolios of related programmes from target to clinic and then share the economic value created.
To bolster the growing portfolio of more than 15 discovery-stage assets, the partners are expanding the collaboration to include Evotec's leading-edge capabilities in covalent inhibitor discovery, leveraging and building upon Evotec's custom covalent libraries and novel screening approaches to discover an exciting new class of highly potent and selective covalent medicines for eligible targets.
In addition to substantial investment from RS and its companies to finance all Evotec-led research and discovery efforts across the portfolio of promising new drug programmes, Evotec is eligible to receive milestones, royalties, and a founding equity stake in all RS assets developed under the partnership.
Dr Craig Johnstone, Chief Operating Officer of Evotec, said: "We are delighted to expand and extend this unique and transformative partnership with Related Sciences. Through best-in-class, fully integrated interdisciplinary science, A.I./M.L.-enabled target selection and drug design, and joint project leadership and portfolio management, Evotec and Related Sciences are well positioned to generate novel, high quality treatments for patients with significant unmet medical needs."
Adam Kolom, Cofounder and CEO at Related Sciences, said: "Our unique data science, technology, and risk-optimization platforms at Related Sciences combine beautifully with Evotec's best-in-class integrated drug discovery capabilities to create a powerful new model for hyper-efficient, scalable discovery of important new medicines for patients. We are excited to continue our collaborative work in this partnership, including adding new world-class capabilities for the discovery of covalent inhibitors to our growing, multi-modality portfolios."
No financial details of the collaboration were disclosed.
ABOUT RELATED SCIENCES
Related Sciences (RS) builds and manages a new class of risk-optimized biotech companies. By re-engineering every aspect of biotech's traditional operating and investment model from the ground-up, RS systematically mitigates the biggest historical sources of risk and inefficiency and creates a new, significantly less risky way to invest in the discovery of valuable new medicines for patients. To achieve this vision for "Biotech 2.0", RS combines innovations across four complementary areas into a single scalable venture platform: 1) The RS Facets TM data science platform optimizes opportunity selection; 2) Evidence-based investment strategies maximize risk-adjusted expected value creation; 3) An efficient new company architecture and decentralized staffing model reduces costs while enhancing scientific depth and breadth; and 4) multiple technology platforms maximize R&D advantages. RS was founded by a multi-disciplinary team of drug discovery, data science, and private equity veterans who have built and led biotech companies worth billions and is backed by a luminary group of investors. www.related.vc
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 4,500 highly qualified people. The Company's 17 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 .
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 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.
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SOURCE: Evotec SE