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Evotec licenses inflammatory disease compounds to Chinese pharma
HAMBURG, GermanyŚLast month, Evotec AG announced the grant of a development and marketing license to Conba Pharmaceutical Co. Ltd. of China for EVT 401, a selective, small-molecule P2X7 antagonist for human indications with exception of ophthalmological, chronic obstructive pulmonary disease (COPD) and endometriosis.
Under the licensing agreement, Conba will have exclusive rights to develop and commercialize the compound for the Chinese market. Evotec will have the right to reference clinical data produced by Conba to support potential further development of EVT 401 in other territories.
Evotec will receive a small upfront payment, development and commercial milestone payments in excess of $76 million, as well as tiered, double-digit royalties on net sales.
According to the companies, the P2X7 receptor antagonism may provide a novel approach for the treatment of inflammatory conditions. Evotec has completed the first Phase I, single-dose study of EVT 401 in 2010. Conba Pharmaceutical will initiate further clinical trials with EVT 401 in China in inflammatory diseases.
"We are very pleased to partner with Conba, a leading Chinese pharmaceutical company, to tap into the Chinese market for inflammatory diseases, such as rheumatoid arthritis," says Dr. Werner Lanthaler, CEO of Evotec in a statement announcing the deal. "This partnership will also increase the value of the P2X7 program worldwide, and follows our strategy to align with the best and most dedicated partners in the industry."
"We are delighted about the collaboration with Evotec, a global leader in drug discovery and development," added Yu Bin, general manager of Conba. "This collaboration expands our ongoing strategy to become an innovator in China for pharmaceutical R&D. We are confident about the potential of this compound to become a novel treatment for inflammatory diseases."
Conba is a top pharmaceutical company in China and has more than 20 subsidiary companies.