Will receive milestone payments in excess of €60m
Evotec has granted exclusive rights to EVT 401, a selective, small molecule P2X7 antagonist for chronic obstructive pulmonary disease (COPD) and endometriosis, to Conba Pharmaceutical in China.
Conba produces finished products and APIs including lyophilised powder for injection, capsules, tablets and antibiotics, semi-synthetic antibiotics and chemical synthetic bulk drugs.
Evotec will receive a small upfront payment, development and commercial milestone payments in excess of €60m, and tiered double-digit royalties on net sales.
The agreement grants Conba Pharmaceutical exclusive rights to develop and market the compound in China. Evotec will have the right to reference clinical data produced by Conba to support potential further development of EVT 401 in other regions.
P2X7 receptor antagonism may provide a new approach for the treatment of inflammatory conditions. Evotec completed the first Phase I, single-dose study of EVT 401 in 2010. Conba Pharmaceutical will initiate further clinical trials in inflammatory diseases in China.
Dr Werner Lanthaler, ceo of Evotec, said: ‘We are very pleased to partner Conba, a leading Chinese pharmaceutical company, to tap into the Chinese market for inflammatory diseases, such as rheumatoid arthritis. This partnership will also increase the value of the P2X7 programme worldwide.’
Yu Bin, general manager of Conba Pharmaceutical, added: ‘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.’