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BRIEF-Evotec and Celgene enters into strategic drug discovery and development collaboration
December 15, 2016 / 9:27 PM / 8 months ago

BRIEF-Evotec and Celgene enters into strategic drug discovery and development collaboration

Dec 15 (Reuters) - Celgene Corp

* Evotec and Celgene corporation have entered into a strategic drug discovery and development collaboration

* Celgene holds exclusive options to in-license worldwide rights to evotec programmes developed from the company's compound library

* Co may be eligible to receive up to $250 million in milestones as well as up to low double-digit royalties on in-licensed programmes

* Initial term of the collaboration is five years

* Under terms of agreement, Evotec will receive an upfront payment of $45 million

* Celgene may also elect to screen compounds from proprietary celmod library using co's IPSC platform to evaluate activity in models of neurodegenerative diseases Further company coverage:

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