Evotec achieves another milestone from Boehringer Ingelheim
This article was originally published in Scrip
Boehringer Ingelheim is to pay Evotec a further research milestone as part of their drug discovery agreement.
Evotec achieved the milestone after a second compound was identified and selected for preclinical development. It is the sixth milestone that the smaller German company has achieved in the collaboration and is the second compound selected for preclinical development in the past year.
The two companies signed the agreement in 2004 to identify and develop preclinical development candidates for the treatment of various diseases.
Boehringer Ingelheim is responsible for clinical development, manufacturing and commercialisation of any compounds identified, while Evotec receives ongoing research payments and preclinical milestones.
Evotec received €6 million in milestone payments from Boehringer Ingelheim last October. The company did not disclose the amount of the latest payment.