Basel, Switzerland, November 2008 – Evolva today announced that it has received a $288,000 award from the Cleveland Clinic led Global Cardiovascular Innovation Center (GCIC). The funding is to advance the development of Evolva’s EV-077 compound series for cardiovascular disease and to explore the formation of a dedicated cardiovascular clinical unit to be based in Cleveland, Ohio.
"We believe the collaboration with the GCIC and the Cleveland Clinic will give us great support in developing our most advanced molecule in the series (EV-077-3201-2) through the clinic, as well as to understand the indications we should select for other members of the series. To be working with such a leading cardiovascular centre is really exciting and we hope it is a relationship that will grow in the years to come." said Alexandra Santana Sorensen, Vice President Research & Development at Evolva.
"We are pleased to add Evolva to the growing list of companies developing cardiovascular solutions being funded in part by the Global Cardiovascular Innovation Center, and we welcome their interest and commitment to furthering that development in the state of Ohio," said Mark Low, managing director of the GCIC.
EV-077-3201-2 is a highly potent, oral, reversible inhibitor of platelet aggregation with a different mechanism of action compared to the market leading drugs in the field (such as Plavix and Aspirin). As such it has the potential to provide certain patient groups who are at risk of thrombosis with medical benefits compared to existing treatments. The compound recently completed pre-clinical testing. Other members of the EV-077 series have potential in other cardiovascular indications as well as diabetes and inflammatory disorders.
Evolva uses genetic chemistry technology platforms to replicate, on an industrial basis, the ability of nature to evolve molecules with exquisite "design". Evolva employs c. 65 people at locations in Switzerland, India, the USA and Denmark. Its two most advanced compounds are EV-077-3201-2 and EV-086-3314, a novel antifungal. For more information see www.evolva.com (http://www.evolva.com).
The Global Cardiovascular Innovation Center (GCIC) is a $250 million research and product development consortium made possible through a $60 million grant from the State of Ohio’s Third Frontier Project. Founded in 2007, the consortium is led by the Cleveland Clinic and is comprised of Case Western Reserve University, The Ohio State University, The University of Cincinnati, The University of Toledo and University Hospitals of Cleveland along with leading industry and economic development partners. GCIC is focused on developing, incubating, and commercializing innovative cardiovascular technology for the benefit of patients worldwide and to facilitate economic development in the State of Ohio. http://www.gcic.org (http://www.gcic.org).