AstraZeneca Signs Deal with German Biotech Evotec for the Development of Diabetes Therapeutics, Focus Reports
Release Date: 2010-12-17
AstraZeneca plc’s global biologics subsidiary MedImmune has formalized a metabolics licensing and collaboration venture with the German company Evotec, through Evotec’s newly acquired Develogen subsidiary. The partnership aims to produce advances in treatment for both Type I and Type II diabetes, by focusing on the regeneration of insulin-producing beta cells.
In a conference call with investors, Cord Dohrmann, Chief Scientific Officer at Evotec, explained, “The loss of insulin-producing beta cells is tightly linked to the development of diabetes.” Evotec has developed a “unique screening approach for beta cell regeneration targets,” and has identified regeneration factors that have demonstrated efficacy when manipulated in animal testing. The approach may "restore in patients the ability to produce sufficient amounts of insulin,” and even reverse the progression of the disease, returning sufferers to “a normal metabolic state."
Dohrmann said that existing treatments for diabetes do not attempt to challenge the underlying causes of the disease, and that these treatments “all have suboptimal efficacy profiles and safety profiles."
The agreement with AstraZeneca is Evotec’s first undertaking in the metabolic disease therapeutics field since acquiring Develogen. The agreement is quite lucrative for the biotech: Evotec stands to net €259M from the deal, with €5M upfront, and another €254M in structured milestone payments throughout the life of the contract—payments are contingent upon specified clinical, regulatory, and commercial successes. Evotec is also promised research funding for further pharmacological collaborations with MedImmune, and royalties from the fruits of their development work. MedImmune will receive exclusive licensing of a portfolio of the pertinent diabetes research programs.
Of the collaboration, Dohrmann stated, "MedImmune is a leader in biopharmaceutical research, with cutting-edge protein production and engineering capabilities—and thus a perfect partner for Evotec. Together we intend to generate a pipeline of biological factors that have the potential to prevent or reverse disease progression, and confer optimal glycemic control in patients.”
| Type: | NORMAL |
| Company: | Focus Reports |
| Country: | Switzerland |