EVOTEC HALTS DEVELOPMENT OF ALZHEIMER'S DRUG

Evotec has reported that during the one-month safety and tolerability study of EVT 301, several cases of asymptomatic elevated liver function tests in the elderly group have been observed, though no cases were observed within the young volunteer group.

In the light of these findings, Evotec has stopped the ongoing Phase I trials and has decided to discontinue the development program for EVT 301, an orally active, selective and reversible inhibitor of monoamine oxidase B (MAO-B) being developed for treating Alzheimer's disease.

"Although advancement of this program would have been optimal, it is better that the investment in EVT 301 has been capped now rather than after a large investment in later stage trials. We continue to believe there is ample opportunity in our current proprietary portfolio of CNS candidates, including our insomnia drug EVT 201 and the potential of EVT 101 for the treatment of Alzheimer's disease, neuropathic pain or other indications," said Joern Aldag, president and CEO of Evotec.