BRIEF—Apeiron and Evotec to split three million euros on achieving I-O milestone

Privately-held Austrian biotech Apeiron and Germany’s Evotec are to split three million euros ($3.6 million) between them after triggering the first milestone payment from an immuno-oncology (I-O) alliance that they signed with French pharma major Sanofi.

The success payment was triggered when the partners successfully advanced an undisclosed, new I-O small molecule into late-stage pre-clinical development.

Under the alliance, the three companies work together to identify small molecule leads and targets for next-generation therapies in I-O, which may complement the pre-clinical and clinical profiles of leading checkpoint inhibitors.

Signed in 2015, the strategic collaboration has a potential value of more than 200 million euros in milestone payments and significant royalties.