Novo Nordisk: strategic alliance with Germany's Evotec
(CercleFinance.com) - Novo Nordisk has formed a strategic alliance with the German biotech company Evotec to develop new treatments for chronic kidney disease.
The alliance will involve the identification of drug candidates based on the analysis of medical and molecular data from hundreds of patients with kidney disorders, Evotec said in a statement.
Pursuant to the agreement, Evotec and Novo will share responsibility for the drug discovery and pre-clinical development phases.
Novo Nordisk will then be responsible for the clinical development and marketing of the products, Evotec says.
In return, Evotec will receive an undisclosed cash upfront payment, in addition to milestone payments that could exceed 150 million euros, as well as tiered royalties on net sales.
Copyright (c) 2020 CercleFinance.com. All rights reserved.