Evotec Receives Milestone Payment from Boehringer Ingelheim
In 2004, Evotec entered into a multi-year drug discovery collaboration with Boehringer Ingelheim to jointly identify and develop preclinical development candidates for the treatment of various diseases. The agreement has been expanded and extended on two occasions since its initiation. Under the terms of the agreement, Boehringer Ingelheim has full ownership and global responsibility for clinical development, manufacturing and commercialization of the compounds identified. In return, Evotec receives ongoing research payments and preclinical milestones. Furthermore, the contract provides substantial long-term upside for Evotec through potential payments for successful milestone achievements during clinical development and royalties when new drugs reach the market.
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