June 27, 2006
Company news from the 06/27/06 News Brief
Evotec AG, a German pharmaceutical company, and Roche have formed an alliance to discover and develop compounds against a target for diseases of the central nervous system. The firms say they will leverage Evotec’s expertise on the target to identify inhibitors involved in the potential treatment of a range of diseases. The two will jointly progress projects up to clinical development, at which stage Roche will have exclusive rights to develop the candidates. Evotec will be eligible to receive milestone payments that could exceed 100 million Euros, plus royalties on the sale of any products. If Roche does not exercise these opt-in rights, Evotec will have the right to opt-in, making adjusted payments to Roche. Evotec, which specializes in CNS, has three compounds in Phase I testing: one for insomnia and two designed to treat Alzheimer’s disease. The firms said the agreement builds on a five-year strategic relationship, during which the two have partnered on service agreements and in-licensing of CNS drugs. Advancis Pharmaceutical Corp. has reached an agreement with Innovex to provide contract sales and marketing services to Advancis. As per the contract, Innovex would be hiring, training and deploying 75 sales representatives dedicated to the sales and promotion of Advancis' recently approved 333-mg and 750-mg strengths of its cephalosporin antibiotic, Keflex Capsules. Advancis expects to start sales and marketing services from July 17.