Strong half for Evotec as revenue jumps thanks to Big Pharma collabs

Evotec has posted a 37% sales jump in the first half of 2016 with its income bumped up to €75.7 million ($84.1 million) as it reaps the benefits of its collabs as well as its core business.

The German company, which is a hybrid CRO-cum-drug discovery firm, also saw its research receipts grow for the first half, up by 6% to €9 million as it ramps up the projects in its portfolio.

A fair chunk of its growth came from hitting a number of R&D milestones in the year, including those with Bayer, Boehringer Ingelheim and Padlock (now owned by Bristol-Myers Squibb [$BMY]).

But even when these milestones, upfronts and licenses are taken out of the mix, Evotec's base revenues still hit €68.5 million, an increase of 35% over the same period of the previous year.

EVT Execute, Evotec's CRO division, also saw sales reach €79.8 million in the first half--an increase of 35% compared with 2015 figures.

The company has also signed a number of new deals over the past few months, including with a U.K. antibiotics group to help reverse resistance to older meds, as well as signing a pact to gain access to the hot ticket CRISPR tech.

It also launched its first spinoff, Topas Therapeutics GmbH, that will specialize in the field of nanoparticle-based therapeutics to treat immunological disorders.

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