Evotec signs three-year development agreement with Novartis
Evotec, a developer of novel small molecule drugs, is to collaborate with Novartis to identify and develop novel small molecule therapeutics.
Evotec, a developer of novel small molecule drugs, is to collaborate with Novartis to identify and develop novel small molecule therapeutics.
Evotec will combine its drug discovery ability with its expertise in disease biology to advance a drug discovery programme against a target nominated by Novartis. The agreement may be expanded by the addition of a second programme.
Under the terms of the agreement, Evotec will progress the programmes up to the pre-clinical stage. Novartis will then have the responsibility for all clinical development activities, manufacture and commercialisation of the compounds.
Evotec is eligible for an upfront payment, research funding, as well as pre-clinical and clinical milestone payments that could exceed $28m (Euro 22m). In addition, Novartis will pay royalties on sales of any marketed products resulting from the collaboration.
Joern Aldag, president and chief executive of Evotec said: "Novartis" decision to work with us is further recognition of our track record in advancing compounds into the clinic."
