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news.Evotec has signed a license and collaboration agreement with Zhejiang Jingxin Pharmaceutical for EVT 201, a new potential treatment for insomnia.
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The agreement grants Jingxin Pharma exclusive rights to develop and market EVT 201 in China. Evotec is expected to receive a small upfront payment, together with commercial milestones and significant royalties.
Jingxin Pharma will initiate clinical trials with EVT 201 in China in 2011. All development costs will be borne by Jingxin Pharma.
Evotec will have the right to reference clinical data produced by Jingxin Pharma to support potential further development of EVT 201 in other territories.
Jingxin Pharma Board chairman and general manager Lu Gang said that in two Phase II clinical trials Evotec has demonstrated that EVT 201 potentially offers advantages to existing insomnia agents.
Evotec CEO Werner Lanthaler said that Jingxin Pharma is an enthusiastic partner keen to develop EVT 201 for China.
"This deal allows finally the further progression of Evotec’s insomnia programme and therefore represents an important step in realising the drug candidate’s value," Lanthaler said.