Evotec out-licenses EVT 401 in China to Conba Pharma

3 May 2012

Hamburg, Germany-based Evotec AG (EVT: TecDAX) has granted a development and marketing license on EVT 401, a selective, small-molecule P2X7 antagonist, for human indications with exception of ophthalmological, chronic obstructive pulmonary disease (COPD) and endometriosis in China to domestic drugmaker and Conba Pharmaceutical.

Under the terms of the deal, Evotec receives a small upfront payment, development and commercial milestone payments in excess of 60 million euros ($79.6 million), and tiered double-digit royalties on net sales. The agreement grants Conba Pharma exclusive rights to develop and commercialize the compound for the Chinese market. Evotec will have the right to reference clinical data produced by Conba Pharmaceutical to support potential further development of EVT 401 in other territories.

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