Evotec is closing a fantastic financial year with another top-level partnership; Celgene has decided to trust in its iPSC platform to develop drugs for neurodegenerative diseases.
Evotec is a successful drug discovery CRO based in Germany that has managed to sign partnerships with some of the biggest names in Biotech. In addition to previous deals with Bayer, Merck, Roche, Sanofi, Boehringer Ingelheim and Takeda, the company has now announced a 5-year collaboration with Celgene in neurodegenerative disease.
Evotec will receive an upfront payment of €43M ($45M) and up to €240M ($250M) in milestones. In exchange, Celgene will have exclusive options to in-license worldwide rights to the programs, as well as to use Evotec’s iPSC platform to test its own candidates in neurodegenerative disease models.
For those unfamiliar with the name, Celgene is a big biotech from the US that originally focused only on blood cancer. It recently started to expand into solid tumors, inflammatory diseases, and now neurodegenerative conditions, which will include Alzheimer’s, Parkinson’s and amyotrophic lateral sclerosis (ALS) among others.