This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Evotec Achieves Milestone With Cardioxyl Pharmaceuticals - as Compound Enters the Clinic 2009-10-01 02:52 ET - News Release HAMBURG, Germany and OXFORD, UK, Oct. 1, 2009 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (Nasdaq:EVTC), a leading provider in the discovery and development of novel small molecule drugs, today announced that the company has achieved an important milestone with Cardioxyl Pharmaceuticals under a collaboration agreement for the compound, CXL-1020, that has successfully moved into clinical testing. This milestone has triggered a success payment from Cardioxyl Pharmaceuticals to Evotec.
Evotec has been providing medicinal chemistry support to Cardioxyl for over three years. During this time the compound, CXL-1020, was developed through lead optimization and pre-clinical development activities, and has now progressed to Phase I/IIa testing in heart failure patients. Using its expertise in lead optimization and computer aided drug design (CADD), Evotec has optimized a range of molecules with the aim of identifying clinical compounds. The collaboration helped Cardioxyl Pharmaceuticals to move from the early stages of target validation to the initiation of clinical studies within 27 months.
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