Evotec and Celgene partner on cancer therapies
German biotech firm Evotec (EVT: Xetra) and US biotech Celgene (Nasdaq: CELG) have entered into a long-term strategic drug discovery and development partnership to identify new therapeutics in oncology.
Evotec, whose share gained 1.35% to 14.30 euros on the news, says it 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 tumors.
Deal includes upfront $65 million to Evotec
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