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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.

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