Germany's Evotec AG has forged a three-year drug discovery alliance with Novartis that is worth up to $28 million in fees and milestones. In the pact Evotec--which specializes in new drug development for ailments involving the central nervous system--will deploy its discovery platform to find a new drug aimed at a target of Novartis' choice. And Novartis has an option to launch a second discovery program as well.
"We are delighted that Novartis has chosen to collaborate with Evotec," says CEO Jorn Aldag. "Novartis' decision to work with us is further recognition of our track record in advancing compounds into the clinic."
- check out the joint release [1]
Related Articles:
Evotec earns milestones from Boehringer [2]
Evotec drug extends sleep in mid-stage trial [3] (Oct 2007)
Evotec adds drugs in Renovis buyout [4] (Sept 2007)
PerkinElmer acquires Evotec Tech in cash buyout [5] (Nov 2006)
Links:
[1] http://www.fiercebiotech.com/press-releases/evotec-announces-three-year-drug-discovery-collaboration
[2] http://www.fiercebiotech.com/story/evotec-earns-milestones-boehringer/2008-10-30
[3] http://www.fiercebiotech.com/story/evotec-drug-extends-sleep-mid-stage-trial/2007-10-16
[4] http://www.fiercebiotech.com/story/evotec-adds-drugs-renovis-buyout/2007-09-19
[5] http://www.fiercebiotech.com/story/perkinelmer-acquires-evotec-tech-in-cash-buyout/2006-12-01