Evotec and Sanofi sign definitive agreement for major multi-component strategic alliance
Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) today announced the signing of a definitive agreement for a major multi-component strategic alliance over the next five years with Sanofi. The transaction is expected to close on 31 March 2015. The signing successfully concludes the exclusive negotiations for a major multi-component strategic collaboration between the two companies entered and announced on 02 December 2014.
The definitive agreement defines the conditions under which Evotec and Sanofi intend to jointly progress a portfolio of primarily oncology related projects, including five advanced, pre-clinical projects and further discovery-stage assets, to IND ("Investigational New Drug") status or other value inflection points before partnering them. Evotec and Sanofi will also enter into an outsourcing alliance and Evotec will acquire Sanofi's scientific operations in Toulouse, France. Evotec will integrate these scientific operations including more than 200 highly experienced employees into its global drug discovery platform. From this new facility, Evotec will perform collaborative research with its Pharma, biotech and academic partners as well as internal research. Evotec will also assume management of Sanofi's global screening library and will combine its own and Sanofi's compound libraries and make them available for screening projects to Evotec's partners.
The collaboration will result in a minimum guaranteed commitment from Sanofi to Evotec of EUR 250 m over the next five years, including more than EUR 40 m upfront cash payment.
The definitive agreement defines the conditions under which Evotec and Sanofi intend to jointly progress a portfolio of primarily oncology related projects, including five advanced, pre-clinical projects and further discovery-stage assets, to IND ("Investigational New Drug") status or other value inflection points before partnering them. Evotec and Sanofi will also enter into an outsourcing alliance and Evotec will acquire Sanofi's scientific operations in Toulouse, France. Evotec will integrate these scientific operations including more than 200 highly experienced employees into its global drug discovery platform. From this new facility, Evotec will perform collaborative research with its Pharma, biotech and academic partners as well as internal research. Evotec will also assume management of Sanofi's global screening library and will combine its own and Sanofi's compound libraries and make them available for screening projects to Evotec's partners.
The collaboration will result in a minimum guaranteed commitment from Sanofi to Evotec of EUR 250 m over the next five years, including more than EUR 40 m upfront cash payment.
