Benzinga | Mar 9, 2021 09:18AM EST

Cassava Sciences Enters Drug Supply Agreement With Evonik Industries; Evonik To Supply Cassava With Simufilam, A Drug Candidate For Alzheimer's. NOTE: Financial Terms Not Disclosed

AUSTIN, Texas, March 09, 2021 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (NASDAQ:SAVA), a clinical-stage biotechnology company developing product candidates for Alzheimer's disease, today announced it has entered into a drug supply agreement with Evonik Industries AG for simufilam. Under the agreement, Evonik will supply Cassava Sciences with large-scale, clinical-grade quantities of simufilam, a drug candidate for the treatment of Alzheimer's disease.

"I am pleased with our success to date in being an effective collaborator with Evonik, a company with a long, successful and reliable track record of supporting pharmaceutical supply chains," said Remi Barbier, President and CEO of Cassava Sciences.

"We are delighted to be collaborating with Cassava and contributing to fight Alzheimer's together. We are committed to supporting Cassava in their goals to maintain the quality of life for millions of patients around the world and to further advance potential treatment options," says Dr Thomas Riermeier, head of Evonik's Health Care business line. Evonik is one of the world's largest contract development and manufacturing organizations (CDMO) for active pharmaceutical ingredients and advanced intermediates.