Evotec announces cooperation agreement with Bayer

Hamburg, Germany-based biotech Evotec has announced that its subsidiary Haplogen GmbH (Vienna) has entered into a favorable cooperation agreement with Bayer, aimed at developing new therapies targeting chronic obstructive pulmonary disease (COPD). Thanks to the deal, Bayer obtains an exclusive license on the therapies that will be developed, while Evotec/Haplogen receives a considerable upfront payment, plus additional payments based on successful completion of precise milestones, whose amounts have not been disclosed yet.

Evotec announced in June an agreement with Sanofi to integrate the French company’s infectious disease portfolio, together with 100 employees and €60m, into the organization. Evotec’s shares have risen 6% over the last month and 40% since the beginning of the year.

(Source Börsen-Zeitung)