Evotec AG and Celgene Corp. entered a collaboration to discover and develop therapies for cancer, with an initial focus on solid tumors.
Under the collaboration, Summit, N.J.-based Celgene will receive exclusive opt-in rights to license worldwide rights to all programs developed under the deal.
Hamburg-based Evotec will receive an up-front payment of $65 million and may be eligible to certain milestone payments and tiered royalties on licensed programs.
The collaboration will use Evotec's phenotypic screening platform to discover and develop therapies for various cancers.
The two companies, in 2016, also entered a collaboration to identify disease-modifying therapies for neurodegenerative diseases.
