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Initial focus will be on solid tumors; upfront payment of $65
May 25, 2018
By: Tim Wright
Evotec and Celgene have entered into a long-term drug discovery and development partnership to identify new therapeutics in oncology. Evotec has built one of the industry’s broadest pre-clinical discovery and development platforms. This includes a 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 tumors. Celgene receives exclusive opt-in rights to license worldwide rights to all programs developed within this collaboration. Under the terms of the agreement, Evotec will receive an upfront payment of $65 million and may be eligible to receive significant milestone payments as well as tiered royalties on each licensed program. Dr. Cord Dohrmann, chief scientific officer, 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.”
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