Evotec OAI Signs Technology Agreement With Celltech

Apr 10, 2001, 01:00 ET from Evotec OAI

    HAMBURG, Germany, and ABINGDON, England, April 10 /PRNewswire/ -- Evotec
 OAI, Hamburg, Germany (EVOTEC BioSystems AG, Neuer Markt: EVT), a supplier of
 integrated high-value added biological, chemical and screening services to the
 pharmaceutical and biotech industries, has signed a technology agreement with
 Celltech Group plc (NYSE:   CLL), (LSE: CCH) a leading European
 biopharmaceutical company.
     Evotec OAI will apply its proprietary VLiP(TM) (virus-like particle)
 technology to two of Celltech's GPCR (G-Protein Coupled Receptor) targets.
 For both targets, Evotec OAI will express the protein, develop screening
 assays and produce concentrated VLiP(TM) protein for further characterisation.
 The VLiP(TM) technology offers the potential to develop robust generic assays
 and is an ideal tool for generating cell-based assays.  A VLiP(TM) particle
 carries the receptor of interest at high concentration in its normal
 physiological environment.  This innovative technology eliminates many
 conventional problems that now occur when cellular systems are used in drug
 discovery, such as inaccuracy, a lack of reproducibility or instability.
     On successful completion of this evaluation, Celltech will have the option
 to obtain from Evotec OAI a non-exclusive licence to use Evotec OAI's VLiP(TM)
 technology.  This licence agreement will include an upfront payment and annual
 fee, as well as milestone payments for any drug products discovered through
 the use of the VLiP(TM) technology.
     Edwin Moses, Evotec OAI's President and Head of Business Development: "We
 are delighted to enter into this collaboration with one of Europe's leading
 biopharmaceutical companies.  We expect our enabling technology to make a
 significant contribution to Celltech's drug development activities. "
 
     Evotec OAI offers the full range of high-value added products and services
 required to discover and develop drugs more effectively and efficiently. By
 integrating accelerated methods in biology, chemistry and screening, the
 Company has established a unique position as a one-stop-shop for all the
 critical elements in the drug discovery research and development process from
 target to clinical development.  Approximately 500 people are based in
 Hamburg, Germany and Abingdon, U.K. Evotec OAI already has close links with
 many of the leading companies in the pharmaceutical and biotechnology
 industries.  The Company's shares are listed on the Neuer Markt of the
 Frankfurt Stock Exchange.
 
     Celltech Group plc is one of Europe's largest biopharmaceutical companies,
 with an extensive late stage development pipeline and a profitable,
 cash-generative pharmaceutical business.  Celltech also possesses a drug
 discovery capability of exceptional strength, including a leading position in
 antibody engineering.
 
     The statements in this press release that are not historical facts are
 forward-looking statements that involve risks and uncertainties including,
 without limitation, risks associated with the inherent uncertainty of
 pharmaceutical research, product development and commercialization, the impact
 of competitive products, patent, product liability and third party
 reimbursement risks associated with the biotechnology industry, and the other
 risks and uncertainties detailed from time to time in Oxford Asymmetry
 International's periodic reports.  Actual results may differ from the
 forward-looking statements.
 
 

SOURCE Evotec OAI
    HAMBURG, Germany, and ABINGDON, England, April 10 /PRNewswire/ -- Evotec
 OAI, Hamburg, Germany (EVOTEC BioSystems AG, Neuer Markt: EVT), a supplier of
 integrated high-value added biological, chemical and screening services to the
 pharmaceutical and biotech industries, has signed a technology agreement with
 Celltech Group plc (NYSE:   CLL), (LSE: CCH) a leading European
 biopharmaceutical company.
     Evotec OAI will apply its proprietary VLiP(TM) (virus-like particle)
 technology to two of Celltech's GPCR (G-Protein Coupled Receptor) targets.
 For both targets, Evotec OAI will express the protein, develop screening
 assays and produce concentrated VLiP(TM) protein for further characterisation.
 The VLiP(TM) technology offers the potential to develop robust generic assays
 and is an ideal tool for generating cell-based assays.  A VLiP(TM) particle
 carries the receptor of interest at high concentration in its normal
 physiological environment.  This innovative technology eliminates many
 conventional problems that now occur when cellular systems are used in drug
 discovery, such as inaccuracy, a lack of reproducibility or instability.
     On successful completion of this evaluation, Celltech will have the option
 to obtain from Evotec OAI a non-exclusive licence to use Evotec OAI's VLiP(TM)
 technology.  This licence agreement will include an upfront payment and annual
 fee, as well as milestone payments for any drug products discovered through
 the use of the VLiP(TM) technology.
     Edwin Moses, Evotec OAI's President and Head of Business Development: "We
 are delighted to enter into this collaboration with one of Europe's leading
 biopharmaceutical companies.  We expect our enabling technology to make a
 significant contribution to Celltech's drug development activities. "
 
     Evotec OAI offers the full range of high-value added products and services
 required to discover and develop drugs more effectively and efficiently. By
 integrating accelerated methods in biology, chemistry and screening, the
 Company has established a unique position as a one-stop-shop for all the
 critical elements in the drug discovery research and development process from
 target to clinical development.  Approximately 500 people are based in
 Hamburg, Germany and Abingdon, U.K. Evotec OAI already has close links with
 many of the leading companies in the pharmaceutical and biotechnology
 industries.  The Company's shares are listed on the Neuer Markt of the
 Frankfurt Stock Exchange.
 
     Celltech Group plc is one of Europe's largest biopharmaceutical companies,
 with an extensive late stage development pipeline and a profitable,
 cash-generative pharmaceutical business.  Celltech also possesses a drug
 discovery capability of exceptional strength, including a leading position in
 antibody engineering.
 
     The statements in this press release that are not historical facts are
 forward-looking statements that involve risks and uncertainties including,
 without limitation, risks associated with the inherent uncertainty of
 pharmaceutical research, product development and commercialization, the impact
 of competitive products, patent, product liability and third party
 reimbursement risks associated with the biotechnology industry, and the other
 risks and uncertainties detailed from time to time in Oxford Asymmetry
 International's periodic reports.  Actual results may differ from the
 forward-looking statements.
 
 SOURCE  Evotec OAI