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news.Evotec AG announced that its strategic alliance with Celgene has reached a first milestone triggering revenues of $ 5.0 m to Evotec, which are recognised in the third quarter of 2017.
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The milestone is due to the successful completion of a screening campaign using Evotec's induced pluripotent stem cell ("iPSC")-based screening platform.
This milestone has been achieved under an agreement between Evotec and Celgene, signed only in December 2016. The goal of this collaboration is to identify disease-modifying therapeutics for a broad range of neurodegenerative diseases by leveraging Evotec's unique iPSC platform.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "With ever-increasing life expectancy, neurodegenerative diseases present a major threat to global healthcare systems. Together with our colleagues at Celgene, we are committed to the discovery and development of new treatment options in this field. We are very pleased to have achieved this very important first milestone in this iPSC-based alliance and look forward to advancing these exciting programmes."