SUMMIT (dpa-AFX) - Evotec AG (EVTCY.PK, EVOTF.PK) said that the company and Celgene Corp. entered into a long-term strategic drug discovery and development partnership to identify new therapeutics in oncology.
As per the terms of the agreement, Evotec will receive an upfront payment of $65 million and may be eligible to receive significant milestone payments as well as tiered royalties on each licensed programme. Celgene receives exclusive opt-in rights to license worldwide rights to all programmes developed within this collaboration.
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