Evotec AG (EVTCY.PK), a German drug maker, said on Thursday that it has signed a strategic partnership and license deal with Janssen Biotech, Inc., an arm of Johnson & Johnson (JNJ), to develop first-in-class targeted immune-based therapies for oncology.
Evotec will work closely with Janssen during the pre-clinical R&D phase while Janssen will be fully responsible for clinical development and commercialization.
In addition to the research funding, Evotec will receive an undisclosed upfront payment, success-based research and commercial milestones of over $350 million as well as tiered royalties on products from the partnership.
Commenting on the deal, Cord Dohrmann, Chief Scientific Officer of Evotec, said, "We are very excited about this collaboration with Janssen. Novel immune-based therapies with disease-relevant, targeted mechanisms are expected to benefit large number of patients. Evotec is committed to leading the way in transformational innovation to treat and ultimately cure diseases of high unmet need."
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