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06.09.2018 07:17:22

Evotec Signs Third Drug Discovery Development Partnership With Celgene

(RTTNews) - Evotec AG (EVTCY.PK, EVOTF.PK) announced Thursday that the company and Celgene Corp, (CELG) have entered into a third long-term strategic drug discovery and development partnership in the field of targeted protein degradation.

Under the terms of the agreement, Evotec will receive an undisclosed upfront payment as well as significant milestone-based payments and tiered potentially double-digit royalties on each licensed programme. Celgene holds exclusive rights for all programmes arising from this collaboration.

In this collaboration, Evotec and Celgene will leverage Evotec's Panomics platform in order to identify drug targets which are traditionally difficult to track. Evotec's Panomics platform applies in particular high-end proteomics and transcriptomics at industrial scale to profile and select promising drug candidates on the basis of comprehensive cell biological profiles.

Evotec's Panomics platform also includes an integrated data analytics platform, "PanHunter", which facilitates the analysis and interpretation of large 'omics' data sets.

The company said the collaboration will leverage the state-of-the-art proteomics expertise of Evotec scientists at the sites in Munich, Germany, and Toulouse, France.

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