03-11-2011: Evotec AG announced the achievement of specific success criteria in a multiple target drug discovery collaboration with Shionogi & Co Ltd. and the receipt of two milestone payments. Evotec and Shionogi will continue to collaborate to progress the fragments through the drug discovery process.
The collaboration was initiated in October 2010 to identify small molecule modulators of various protein-protein interaction targets selected by Shionogi. Evotec has applied its proprietary and integrated fragment-based drug discovery platform EVOlutionSM to the selected targets. Active fragments have been further characterised by X-ray crystallography to obtain structural information to aid selection of the best fragment optimization strategy. A team of medicinal chemists, biologists, computational chemists and structural biologists will in close collaboration with Shionogi progress the molecules through the fragment to lead and lead optimization stages.
No financial details are disclosed.