Evolva to receive first milestone payment from Roche

Evolva Holding SA (SIX: EVE) today announced that Roche (SIX: ROG, RO; OTCQX: RHHBY) has confirmed that Evolva has achieved its first milestone in their collaboration. Roche will now make a corresponding milestone payment (of an undisclosed amount) to Evolva. The milestone relates to the achievement of diverse, purified active compounds that derive from Evolva’s synthetic biology platform. The   milestone payment does not change Evolva’s cash flow guidance for 2011.

The aim of Evolva’s collaboration with Roche is to use Evolva’s technology platform to create compounds with activity on targets in oncology and infectious disease. The project commenced in January 2010.

“The collaboration with Roche is progressing well. Our platform is delivering on its promise to fundamentally change multiple industries. After recent successes in nutritional ingredients, it is great to see the potential in pharmaceuticals further confirmed.”