- LEVERAGING EVOTEC'S PHENOTYPIC SCREENING CAPABILITIES AND COMPOUND LIBRARIES WITH AN INITIAL FOCUS ON SOLID TUMOURS
- UPFRONT PAYMENT OF $ 65 M, SIGNIFICANT MILESTONE PAYMENTS AND TIERED ROYALTIES PER PROGRAMME
HAMBURG, Germany--(BUSINESS WIRE)--Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) announced today that Evotec and Celgene Corporation ("Celgene") have entered into a long-term strategic drug discovery and development partnership to identify new therapeutics in oncology.
Evotec has built one of the industry's broadest and most innovative pre-clinical discovery and development platforms. This includes in particular an industry-leading phenotypic screening platform with unique compound libraries and associated target deconvolution capabilities. The collaboration intends to leverage these capabilities with an initial focus on solid tumours.
Celgene receives exclusive opt-in rights to license worldwide rights to all programmes developed within this collaboration. Under the terms of the agreement, Evotec will receive an upfront payment of $ 65 m and may be eligible to receive significant milestone payments as well as tiered royalties on each licensed programme.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, said: "We are extremely pleased and encouraged about the opportunity to enter into a second major alliance with our colleagues at Celgene. Our first alliance in neurodegenerative diseases has already proven that both companies and teams are united by the same spirit and objectives bringing new and better treatment to patients."
FORWARD LOOKING STATEMENTS
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.
Contacts
Evotec AG:
Gabriele Hansen, +49.(0)40.56081-255
VP Corporate Communications & Investor Relations
gabriele.hansen@evotec.com
