Evotec AG announced a strategic collaboration with Petra Pharma Corporation. Through the collaboration, Petra will access Evotec's INDiGO platform to accelerate the development of its lead programme Petra-01, which is being developed for a range of oncological indications, through to the submission of an Investigational New Drug Application (IND) with the U.S. Food and Drug Administration (FDA) by the close of 2018. Evotec will leverage its highly skilled experts across all disciplines, primarily oncology, to implement a tailored drug development strategy for Petra-01 and will receive undisclosed research funding and success-based milestones.
"Evotec has a strong track record of successful integrated development and INDiGO packages on behalf of their clients," said Brian O'Callaghan, President and Chief Executive Officer at Petra Pharma. "Our team at Petra is excited to progress our lead programme and look forward to achieving our goal to file an IND by the end of 2018. We are confident Evotec's INDiGO programme and the team they assembled are the best partner to ensure the rapid and high-quality progression of Petra-01."