Posted on 10/08/2010 in Pharmaceutical Company Product News Boehringer Ingelheim has paid a milestone sum of 2.5 million euros (2.1 million pounds) to partner Evotec as part of a collaborative research partnership.
The payment was awarded as part of the two firms' multi-year, multi-target drug discovery alliance, which was entered into in 2004 and subsequently extended and expanded last year.
This latest milestone pertains to the selection of a candidate compound for pre-development, with the drug set to be the target of an inflammation and immunology programme.
Dr Werner Lanthaler, chief executive officer of Evotec said this latest move, which is the tenth milestone achieved under the partnership, underlines the collaboration's ongoing success.
He added: "We look forward to further successes from this innovative alliance based on outstanding science and a very close relationship between Evotec and Boehringer Ingelheim's scientists."
Earlier this month Boehringer Ingelheim published its financial report for the second quarter of the current fiscal year, announcing results which were in line with its projections. Other news stories from 10/08/2010
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