Evotec and Celgene entered into a long-term strategic drug discovery and development partnership to identify new therapeutics in oncology.
Evotec officials say the firm’s preclinical discovery and development platforms include a phenotypic screening technique “with unique compound libraries and associated target deconvolution capabilities.” The collaboration intends to leverage these capabilities with an initial focus on solid tumors, according to Cord Dohrmann, Ph.D., CSO of Evotec.
Celgene receives exclusive opt-in rights to license worldwide rights to all programs developed within this collaboration. Under the terms of the agreement, Evotec will receive an up-front payment of $65 million and may be eligible to receive milestone payments as well as tiered royalties on each licensed program.
“We are extremely pleased and encouraged about the opportunity to enter into a second major alliance with our colleagues at Celgene,” said Dr. Dohrmann. “Our first alliance in neurodegenerative diseases has already proven that both companies and teams are united by the same spirit and objectives bringing new and better treatment to patients.