Evotec AG (EVTCY.PK), a drug discovery and development company, said Monday that the German Federal Ministry of Education and Research or BMBF has selected the Company for a grant of 7.5 million euros, for the development of EVT075, a potential first-in-class immunomodulatory therapy to fight Covid-19.
The Hamburg-based Evotec said in a statement that it aims to use the fund to start clinical studies assessing the safety and efficacy of the compound and to determine the optimal dose-range in healthy volunteers as well as Covid-19 patients.
Dr Werner Lanthaler, Chief Executive Officer of Evotec, commented: "…By amplifying the immune response and lowering the viral load, the molecule can help reduce the share of people requiring inpatient treatment, and thus the enormous strain the pandemic is putting on the global health systems. Having leveraged our pandemic preparedness platform 'PRROTECT', we are excited to use the grant from the BMBF to bring a potential Covid-19 therapeutic into the clinic."
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