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Nov. 8, 2013, 12:54 PM
- Johnson & Johnson's Janssen unit (JNJ +0.9%) inks a new deal with Evotec (EVTCY +5.3%) aimed at uncovering new treatments for Alzheimer's.
- JNJ will fund up to $10M in research for Evotec whose "growing database on the links between molecular and cellular changes in the brain" attracted JNJ, FierceBiotech notes.
- Janssen has also agreed to pay ~$125-145M "upon achieving agreed-upon milestones" and will pay royalties on any products that make it to market.
- "Identifying new targets for drug development based on disease pathology may have the potential to impact the disease at its earliest stages, resulting in greater therapeutic benefit to patients," Evotec says. (PR)
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Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions,... More
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