Evotec reaches second milestone in Alzheimer's disease collaboration with Takeda Pharmaceutical

By Lisa Kerner

Charlotte, N.C., Aug. 16 - Evotec AG said it triggered the second milestone in its four-year drug discovery collaboration with Takeda Pharmaceutical Co. Ltd. to develop small molecule therapeutics for the treatment of Alzheimer's disease.

The amount of the milestone payment was not disclosed.

Total payments to Evotec will reach up to €20 million for access fees to Evotec's proprietary database of Alzheimer's disease-related targets, research funding and success-based milestone payments, according to a company news release.

Evotec said it would receive additional milestones payable on the successful clinical development of compounds acting on selected targets.

"Over the past three years we have made excellent progress in building substantial expertise and intellectual property around novel Alzheimer's disease targets," executive vice president of research and development John Kemp said in the release.

"The relationship with Takeda is very productive and we are looking forward to jointly leveraging our innovative Alzheimer's disease toolbox during the years to come."

Evotec is a Hamburg, Germany, biotechnology company.

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