Evotec receives milestone payment from Ono
The milestone is received for the progression of the collaboration into lead optimisation
German small molecule drug developer Evotec has received a milestone payment from Ono Pharmaceutical of Japan from its research collaboration aimed at identifying novel inhibitors for a protease target. The milestone is received for the progression of the collaboration into lead optimisation.
Mario Polywka, chief operating officer of Evotec, said: "The success of this project is a testament to the strong partnership between our two companies and we look forward to continuing working closely with our colleagues at Ono both on this programme as it progresses to the clinic as quickly as possible and also on our recently initiated collaboration on a second target."
Kazuhito Kawabata, managing director, head of research headquarters and director of Minase Research Institute at Ono, added: "We look forward to reaching additional milestones together as our programmes progress."
Under the terms of the collaboration on the second target, an ion channel, Evotec will provide high throughput screening, medicinal chemistry and in vitro pharmacology. In return, Evotec will receive research funding and milestone payments.
