4th Apr 2006 07:01
Evolutec Group PLC04 April 2006 For immediate release 4 April 2006 EVOLUTEC GROUP PLC ("Evolutec" or "the Company") Evolutec and Merial Sign Option Agreement Evolutec Group plc (AIM: EVC), the biopharmaceutical company developing novelproducts for the treatment of allergic, inflammatory and autoimmune diseases, ispleased to announce that Merial Limited, a world-leading, innovation-drivenanimal health company, has signed an option agreement covering the animal healthuses of Evolutec's vaccine technology. This new agreement follows the positive result announced in 2005 in which Merialdemonstrated that Evolutec's vaccine technology significantly reduced the levelof Boophilus tick infestation in cattle, a cause of major productivity lossesdue to disease transmission, hide (skin) damage and anaemia. The agreement grants Merial an exclusive option to acquire exclusive worldwiderights to Evolutec's vaccine technology for animal health uses in return forlicensing and milestone fees and a royalty on sales. Merial's development programme will evaluate Evolutec's technology in the areaof vaccines against important tick-borne diseases in production and companionanimals and anti-tick vaccines. Any future development work will be undertakenat Merial's expense. Mark Carnegie Brown, Evolutec's Chief Executive, commented: "We are delightedthat Merial has decided to continue its evaluation of Evolutec's vaccinetechnology through this new agreement." Speaking for Merial, Bob Nordgren, Vice President of Biological Research andTechnology Acquisition, added: "Merial is pleased to secure an option oncommercial rights to Evolutec's vaccine technology for use in animal health." ENDS For further information:Evolutec 0118 922 4480Mark Carnegie Brown, Chief Executive OfficerNicholas Badman, Chief Financial Officerwww.evolutec.co.uk Buchanan Communications 020 7466 5000Mark Court/Tim Anderson/Mary-Jane Johnson Notes for Editors: About Evolutec Evolutec, which is based in Reading, UK, is a clinical stage biopharmaceuticalcompany with a focus on allergy, inflammation and auto-immune diseases. The Company has completed a positive 112 patient proof of concept Phase IIaclinical trial with rEV131, its lead product, in allergic rhinitis. rEV131 metthe primary endpoint of reducing the sum of symptom scores at statisticallysignificant levels within 45mins of administration. Evolutec intends to completea further Phase IIb trial in allergic rhinitis and additional proof of conceptPhase II trials in post-cataract surgery and dry eye in 2006. Positivepre-clinical data has also been generated in asthma. rEV131 is a histaminebinding protein that impacts the H1, H2 and recently discovered H4 histaminereceptor. This mode of action gives rEV131 a unique product profile of reducingboth early and late stage inflammation. The Company has a further two products in pre-clinical development: rEV598,which is being evaluated in CINV (chemotherapy-induced nausea and vomiting), andrEV576, a complement inhibitor indicated for treating reperfusion injury inischemic heart disease, stroke and cardiopulmonary bypass. Evolutec is listed on the London Stock Exchange and develops therapeuticsoriginally isolated from the saliva of ticks. The tick remains undetected by itshosts, including humans, by injecting an array of molecules into the skin thatsuppresses host immunity. These stealth molecules have undergone millions ofyears of natural evolution to select a promising efficacy, potency and safetyprofile. Evolutec employs the tick's evolutionary stealth technology to offerthe potential of treating human diseases. Safe Harbour statement: this news release may contain forward-looking statementsthat reflect the current expectations of the Company regarding future events.Forward-looking statements involve risks and uncertainties. Actual events coulddiffer materially from those projected herein and depend on a number of factorsincluding the success of the Company's research strategies, the applicability ofthe discoveries made therein, the successful and timely completion of clinicalstudies, the uncertainties related to the regulatory process, the successfulintegration of completed mergers and acquisitions and achievement of expectedsynergies from such transactions, and the ability of the Company to identify andconsummate suitable strategic and business combination transactions. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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