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Evotec In Drug Discovery Deal With J&J-owned Janssen

Evotec AG(EVO), a German drug maker, said on Tuesday that it entered into a drug discovery collaboration with Janssen Pharmaceutica NV, a Belgian pharma company owned by Johnson & Johnson.

According to the deal, Evotec's TargetAlloMod platforms will be evaluated to discover first-in-class novel mode of action therapeutic candidates.

Both companies "will jointly conduct screens on the identified targets and collaborate with hit identification and lead optimization of the most promising chemical assets, leveraging Evotec's end-to-end integrated drug discovery and development platform," the German company said in a statement.

The project is facilitated by Johnson & Johnson Innovation.

Besides research funding, Evotec is entitled to success-based research and commercial milestones up to around 210 million euros per project as well as tiered royalties on products resulting from this deal.

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