Evotec rises on news of deal with Takeda
Evotec (EVT: Xetra) today announced a strategic, multi-year drug discovery collaboration with Japan’s Takeda Pharmaceutical (TYO: 4502), with the news pushing the German biotech firm’s shares up 5.4% to 21.50 euros by early afternoon trading.
Under the collaboration, the companies aim to establish at least five drug discovery programs with the goal of Evotec delivering clinical candidates for Takeda to pursue into clinical development.
"Collaborating with world-class drug discovery partners like Evotec is central to our model for discovering and developing transformative medicines," said Takeda’s global head of research, Steve Hitchcock, adding: "Takeda has a long history of working with Evotec and is confident in Evotec's capabilities."
Financial terms of the deal
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