HAMBURG, Germany--(BUSINESS WIRE)--Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) announced today that Evotec and Celgene Corporation have entered into a strategic drug discovery and development collaboration to identify disease-modifying therapeutics for a broad range of neurodegenerative diseases. This exclusive broad R&D collaboration is based on Evotec's unique induced pluripotent stem cell ("iPSC") platform which enables systematic drug screening in patient-derived disease models. The initial term of the collaboration is five years.
Under the terms of the agreement, Evotec will receive an upfront payment of $ 45 m. Celgene holds exclusive options to in-license worldwide rights to Evotec programmes developed from the company's compound library. Evotec may be eligible to receive up to $ 250 m in milestones as well as up to low double-digit royalties on in-licensed programmes. As part of the collaboration, Celgene may also elect to screen compounds from its proprietary CELMoD(R) library using Evotec's iPSC platform to evaluate activity in models of neurodegenerative diseases.
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