21st Oct 2013 05:52
LONDON (Alliance News) - Evotec AG (EVTCY.PK, EVOTF.PK) announced that it has signed an agreement with AstraZeneca (AZN.L, AZN) in the field of kidney diseases. Initial focus of the alliance will be exploring compounds and targets with novel mechanisms that have disease-modifying potential for the treatment of chronic kidney disease.
Under the licence and collaboration agreement, AstraZeneca will receive access to a selected series of molecules identified in a screening effort, which is part of Evotec's systematic kidney disease initiative. AstraZeneca will provide industrial scope and scale as well as pharmaceutical development expertise and marketing capabilities.
The agreement triggers an upfront payment as well as pre-clinical, clinical and regulatory milestones. Evotec is also eligible for additional milestone and royalty payments related to commercialisation. Evotec will receive research funding for work that will be conducted in collaboration with AstraZeneca.
Copyright RTT News/dpa-AFX
Related Shares:
Astrazeneca