Nuevolution announces receipt of milestone payment from Boehringer Ingelheim

Copenhagen, May 9, 2012 – Nuevolution A/S today announced that it has received a milestone payment derived from its collaboration with Boehringer Ingelheim.

The payment was triggered following identification of potent small molecule compounds that have been shown to disrupt the protein-protein interaction of an undisclosed therapeutic target.

In its collaboration with Boehringer Ingelheim, Nuevolution is applying its proprietary Chemetics® technology to identify novel small molecule leads against drug targets of interest to Boehringer Ingelheim. Nuevolution has so far screened about 300 million small molecules against the first of the targets selected under the collaboration.

The Chemetics® platform uses innovative DNA labeling to allow fragment-based drug screening at an unprecedented scale forming small molecules and synthetic biologics. In existing collaborations, Nuevolution has successfully identified drug-like small molecules for several challenging target classes, including enzymes and protein-protein interactions.

“We are very pleased about the results that have been obtained thus far in the collaboration with Boehringer Ingelheim.

The use of ultra large libraries under the optimized work flow implemented by Nuevolution during the last couple of years, has allowed the rapid identification of interesting compounds for this target,” said Alex Gouliaev, CEO of Nuevolution A/S. “The current results provides a promising basis for the further compound optimization.”