Ad-hoc | 15 December 2016 22:17
Evotec AG / Key word(s): Alliance
15-Dec-2016 / 22:17 CET/CEST
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Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange, Prime Standard,
ISIN: DE 000 566480 9, WKN 566480) announced today that Evotec and Celgene
Corporation have entered into a strategic drug discovery and development
collaboration to identify disease-modifying therapeutics for a broad range
of neurodegenerative diseases. This exclusive broad R&D collaboration is
based on Evotec's unique induced pluripotent stem cell ("iPSC") platform
which enables systematic drug screening in patient-derived disease models.
The initial term of the collaboration is five years.
Under the terms of the agreement, Evotec will receive an upfront payment of
$ 45 m. Celgene holds exclusive options to in-license worldwide rights to
Evotec programmes developed from the company's compound library. Evotec may
be eligible to receive up to $ 250 m in milestones as well as up to low
double-digit royalties on in-licensed programmes. As part of the
collaboration, Celgene may also elect to screen compounds from its
proprietary CELMoD(R) library using Evotec's iPSC platform to evaluate
activity in models of neurodegenerative diseases.
Contact: Dr Werner Lanthaler, Chief Executive Officer, Evotec AG, Manfred
Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49.(0)40.560
81-242, werner.lanthaler@evotec.com
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Language: English
Company: Evotec AG
Manfred Eigen Campus / Essener Bogen 7
22419 Hamburg
Germany
Phone: +49 (0)40 560 81-0
Fax: +49 (0)40 560 81-222
E-mail: info@evotec.com
Internet: www.evotec.com
ISIN: DE0005664809
WKN: 566480
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service