Evotec in exclusive broad R&D collaboration based on its iPSC platform

16 December 2016

German biotech firm Evotec (EVT: Xetra) has entered into a strategic drug discovery and development collaboration to identify disease-modifying therapeutics for a broad range of neurodegenerative diseases with USA-based Celgene (Nasdaq: CELG), with the news pushing its shares up 2.86% to 6.97 euros in mid-morning trading.

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. Initial disease areas of focus will include amyotrophic lateral sclerosis, Alzheimer's disease, Parkinson's disease, and multiple other neurodegenerative disorders.

Deal worth up to $295 million

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