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news.Evotec has entered into a collaboration agreement with Bayer Pharma to develop three clinical drug targets for the treatment of endometriosis.
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Under the agreement, Bayer will be responsible for any subsequent clinical development and commercialization.
For the development, Evotec will receive €12m as an upfront payment and may also receive additional pre-clinical, clinical and sales milestones of potentially up to approximately €580m.
Evotec can also receive potential royalties of up to low double digit percent of net sales, depending on which party brought the compound to the collaboration and the successful development and approval of potential drug candidates.
Evotec chief executive officer Werner Lanthaler said women with endometriosis may experience excruciating and chronic pain.
"Because endometriosis affects women in childbearing age, there is an incredible need for new, non-surgical treatments that will preserve fertility and alleviate pain," Lanthaler added.
"Evotec brings into this collaboration potential drug candidates and its extensive know-how in the area of chronic pain.
"We look forward to joining forces with Bayer in what we believe is a very promising and comprehensive effort to tackle this significant issue in women’s health."