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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.

by RTTNews Staff Writer

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