logo
Plus   Neg
Share
Email

Evotec, Sanofi In Talks For Infectious Disease Open Innovation R&D Platform

Evotec AG (EVTCY.PK,EVOTF.PK) announced Thursday that the company and Sanofi (SNYNF,SNY) have entered into exclusive negotiations to accelerate infectious disease research and development through a new open innovation platform led by Evotec.

Sanofi will licence its infectious disease research and early-stage development portfolio and transfer its infectious disease research unit, which includes more than 100 employees to Evotec.

Sanofi will pay Evotec an initial one-time cash upfront payment of 60 million euros and provide further significant long-term funding to ensure support and progression of the portfolio. Sanofi will retain certain option rights on the development, manufacturing, and commercialisation of anti-infective products.

This transaction is expected to close in the first half of 2018, subject to finalisation of definitive agreements and completion of the appropriate social process.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
UK economic growth slowed in the three months to October, mainly due to a fall in car sales and stagnation in manufacturing, as the uncertainty surrounding the country's decision to leave the European Union, dubbed Brexit, intensified. Gross domestic product grew 0.4 percent in the three months to October, which was slower than the 0.6 percent expansion in the September quarter. Germany's merchandise exports grew more-than-expected in October and at the fastest pace in five months, preliminary figures from Destatis showed on Monday. Exports increased a calendar ad seasonally adjusted 0.7 percent from September, when they declined 0.4 percent. Economists had forecast a 0.4 percent gain for October. Japanese prosecutors have indicted Japanese automaker Nissan Motor Co. Ltd. and its former chairman Carlos Ghosn on allegations of financial misconduct. Former Nissan director Greg Kelly was also indicted. Nissan said Monday that its Ghosn and Kelly were indicted for violating the Japan Financial Instruments and Exchange Act, namely making false disclosures in annual securities reports.
Follow RTT