Date: 2013-01-07
Type of information: Licensing agreement
Compound: beta cell regeneration assets and capabilities including EVT770
Company: Evotec (Germany) MedImmune (USA - global biologics arm of AstraZeneca (UK)
Therapeutic area: Metabolic diseases
Type agreement: licensing
collaboration
Action mechanism:
Disease: diabetes
Details: Evotec has expanded the scope of its collaboration with MedImmune after hitting a key milestone. Evotec achieved a milestone payment of €0.5 m. The milestone triggers a commercial license granted to MedImmune and an extension of the diabetes and beta cell regeneration collaboration to the end of 2013.
This license and collaboration agreement in the diabetes therapeutic area was initiated in December 2010. Within the agreement MedImmune has exclusive access to a defined set of biologic targets that have the potential to prevent or reverse disease progression in diabetic patients. The size of the combined research team has expanded and Evotec will receive additional research payments to support in vitro and in vivo experiments.
Financial terms: As part of the original agreement, Evotec received an upfront payment of €5 million and could earn up to €254 million in further milestones and payments as well as royalties on product sales. The majority of milestone payments are due upon achievement of certain clinical as well as regulatory and commercial milestones. Further milestone payments may be achieved with the approval of additional indications and programs.
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