Evotec teams up with DAC on HSP90 project

German biotechnology firm Evotec AG says that DAC, a wholly-owned subsidiary of Italian investment specialists Genextra SPA, has chosen Evotec as strategic partner on a small-molecule therapeutics project. The companies will collaborate on the development of drugs that target the heat-shock protein HSP90, which has a key role in several oncogenic pathways.

Under the terms of the deal, DAC will be allowed access to Evotec's HSP90 research, and will work specifically on identifying and improving drug candidates which inhibit the protein's activity. Evotec said that it would receive R&D service revenues in the single-digit millions range, adding that it is also entitled to preclinical and clinical milestone payments. Financial terms of the agreement were not disclosed.