Brent Bankosky: Janssen Pharmaceuticals Wins License for Evotec AG Portfolio

NEW YORK, NY, August 16, 2012 (Press-News.org) German-based company Evotec AG has announced the decision to license a scientific portfolio to Janssen Pharmaceuticals. The portfolio in question contains an array of small molecules and biologics, designed with the intent of triggering the regeneration of beta cells that produce insulin. Evotec's innovations stem from a unique international collaboration with researchers at Harvard University. The further development of this research, and this portfolio, could potentially have a big impact on the future of diabetes research and treatment--and as such, it has won the attention of Brent Bankosky. Brent Bankosky is a long-time business veteran with extensive experience in the pharmaceutical business; he is also a vocal advocate for research into juvenile diabetes. Bankosky has responded to the deal with a press statement of his own.

"The recent signing of the strategic license agreement between Evotec AG and Janssen Pharmaceuticals will advance efforts for a possible cure for diabetes through the discovery and development of innovative medicines, including both small molecules and biologics, that are designed to trigger the regeneration of insulin-producing beta cells," notes Brent Bankosky. He goes on to praise the parties involved. "Evotec AG, Harvard University and the Howard Hughes Medical Institute (HHMI) created the CurBeta Initiative in 2011 to pool resources and facilitate the identification and development of high-potential diabetes targets for drug discovery and development. The success of the CurBeta Initiative has resulted in a license to Janssen Pharmaceuticals involving a portfolio of potential medicines for the treatment of diabetes as well as an increase in collaborative research efforts."

Brent Bankosky goes on to note that the terms of the business deal are conducive to further research and development down the road. "The financial terms of the deal involve an upfront payment of $8 million, along with $200-$300 million in development and commercial milestones per product and commercial royalties, which will be split between Evotec AG and Harvard University," he says. "Janssen Pharmaceuticals will contribute their vast resources in drug development and commercialization along with their early stage research expertise to advance the collaboration."

Bankosky concludes his press statement by saying that the deal is not just good news for these two companies, nor even for those with diabetes; the model provided by this business deal is one that could have far-ranging, positive implications throughout the pharmaceutical industry. Says Bankosky, "This new model of collaboration between industry and academia represents a powerful approach to drug discovery and development and should serve as a model for efficient and effective drug development."

In addition to Brent Bankosky, many other advocates for juvenile diabetes research have praised this new development, including the Juvenile Diabetes Research Foundation itself.

ABOUT:

Brent Bankosky is a business executive and corporate strategist who has a strong background in the pharmaceutical industry. Through his work, he has assisted multiple pharmaceutical companies. Additionally, Brent Bankosky has accrued global experience, allowing him to understand the international implications of innovations within the pharmaceutical industry, as well as to work well with professionals from a variety of backgrounds and cultures.

Website: http://brentbankosky.org/