DGAP-News
EVOTEC AND ETERNYGEN TO DEVELOP NOVEL METABOLIC DISEASE THERAPY
DGAP-News: Evotec AG / Key word(s): Alliance
EVOTEC AND ETERNYGEN TO DEVELOP NOVEL METABOLIC DISEASE THERAPY
09.01.2017 / 07:29
The issuer is solely responsible for the content of this announcement.
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EVOTEC AND ETERNYGEN TO DEVELOP NOVEL METABOLIC DISEASE THERAPY
09.01.2017 / 07:29
The issuer is solely responsible for the content of this announcement.
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* Evotec participate in Eternygen's EUR 8 m (approx. $ 8.3 m) Series A
funding round together with Epidarex Capital, the lead investor, and a
consortium of prominent German investors
* Evotec to provide all pre-clinical drug discovery activities in
collaboration with Eternygen
Hamburg, Germany, 09 January 2017:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809)
announced today that it will extend its existing relationship with
Eternygen GmbH ("Eternygen") by becoming an investor in addition to being a
pre-clinical drug discovery partner. Within a consortium of investors
including VC Fonds Technologie Berlin, managed by IBB
Beteiligungsgesellschaft mbH, and two renowned family offices, Epidarex and
Evotec together will participate in Eternygen's latest funding round of EUR
8 m (approx. $ 8.3 m).
Eternygen, a privately owned metabolic diseases company based in Berlin,
Germany, is focused on the sodium coupled citrate transporter ("NaCT"), a
novel target which is also known as INDY ("I am Not Dead Yet"). INDY is a
key regulator of energy metabolism that may be involved in the pathogenesis
of nonalcoholic fatty liver disease ("NAFLD"), nonalcoholic steatohepatitis
("NASH"), diabetes and obesity. Eternygen will use the proceeds of the
Series A funding to accelerate its small molecule NaCT inhibitors towards
the selection of a pre-clinical lead candidate. Eternygen will rely on
Evotec's best-in-class drug discovery platform and metabolic disease
expertise to conduct all work to the selection of pre-clinical development
candidate and possibly beyond.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are
very excited to take part in the growth and ownership of a company which
together with Evotec has assembled world-leading expertise and tools around
a very promising mechanism in metabolic diseases. Combining academic
excellence with a highly focused management team and a proven platform is a
highly effective model for Evotec to bring forward projects with
first-in-class potential. Eternygen perfectly fits into this mold."
Marco Janezic, CEO Eternygen GmbH, said: "The successful completion of our
series A round with a syndicate of renowned investors is great recognition
funding round together with Epidarex Capital, the lead investor, and a
consortium of prominent German investors
* Evotec to provide all pre-clinical drug discovery activities in
collaboration with Eternygen
Hamburg, Germany, 09 January 2017:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809)
announced today that it will extend its existing relationship with
Eternygen GmbH ("Eternygen") by becoming an investor in addition to being a
pre-clinical drug discovery partner. Within a consortium of investors
including VC Fonds Technologie Berlin, managed by IBB
Beteiligungsgesellschaft mbH, and two renowned family offices, Epidarex and
Evotec together will participate in Eternygen's latest funding round of EUR
8 m (approx. $ 8.3 m).
Eternygen, a privately owned metabolic diseases company based in Berlin,
Germany, is focused on the sodium coupled citrate transporter ("NaCT"), a
novel target which is also known as INDY ("I am Not Dead Yet"). INDY is a
key regulator of energy metabolism that may be involved in the pathogenesis
of nonalcoholic fatty liver disease ("NAFLD"), nonalcoholic steatohepatitis
("NASH"), diabetes and obesity. Eternygen will use the proceeds of the
Series A funding to accelerate its small molecule NaCT inhibitors towards
the selection of a pre-clinical lead candidate. Eternygen will rely on
Evotec's best-in-class drug discovery platform and metabolic disease
expertise to conduct all work to the selection of pre-clinical development
candidate and possibly beyond.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are
very excited to take part in the growth and ownership of a company which
together with Evotec has assembled world-leading expertise and tools around
a very promising mechanism in metabolic diseases. Combining academic
excellence with a highly focused management team and a proven platform is a
highly effective model for Evotec to bring forward projects with
first-in-class potential. Eternygen perfectly fits into this mold."
Marco Janezic, CEO Eternygen GmbH, said: "The successful completion of our
series A round with a syndicate of renowned investors is great recognition
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