- Celgene (NASDAQ:CELG) and Evotec AG (OTCPK:EVOTF)(EVTCY) ink a five-year strategic drug discovery and development collaboration to identify new therapeutics to treat a range of neurodegenerative diseases. The initial focus will be on amyotrophic lateral sclerosis (ALS), Alzheimer's disease, Parkinson's disease as well as certain others. The partnership will leverage Evotec's induced pluripotent stem cell (iPSC) platform to systematically screen drug candidates in patient-derived disease models.
- Under the terms of the agreement, Evotec will receive an upfront payment of $45M, up to $250M in milestones and up to low-double-digit royalties on net sales of in-licensed programs. Celgene may also elect to screen compounds from its proprietary CELMoD library using Evotec's iPSC platform to assess activity in the neurodegenerative areas of interest.
- Evotec will host a conference call tomorrow at 8:00 am ET to discuss the partnership.