Evotec and Novo Nordisk in technology development partnership (updated)

Evotec SE

26/09/2024 09:07

(Adds analyst comments, shares)
       Sept 26 (Reuters) - German drug and development company
Evotec  EVTG.DE  has entered into a technology development
partnership with Novo Nordisk  NOVOb.CO  to support clinical and
commercial manufacturing of stem cell-based therapies, Evotec
said on Thursday.
    Evotec will receive funding for technology development
activities in Germany and Italy, research and development
funding, an undisclosed upfront payment and possible milestone
and royalty payments, it added.
    In exchange, Novo Nordisk has an option to obtain exclusive
rights to utilise results of the collaboration.
    Stem cell-based therapies at Novo Nordisk are still at an
exploratory level within diabetes and cardiovascular diseases
and the partnership with Evotec is a way to exploit that
potential further, Sydbank analysts said.
    The partnership might relate to Evotec's beta-cell implant
programme QR-Beta, with the initial upfront sum being a
prepayment for capacity and manpower, plus cost margin,
according to Warburg Research analyst Christian Ehmann. 
    "In our estimate, both companies will try to develop a
cell-based diabetes cure," he added.
    Shares in Evotec were up 5.6% at 0753 GMT. Novo's shares
were up 1.5%.

 (Reporting by Isabel Demetz; Additional reporting by Jesús
Calero; Editing by Friederike Heine and Mark Potter)
 ((Isabel.Demetz@thomsonreuters.com;))