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Sanofi to pay €3M after Evotec reaches milestone in diabetes collaboration

Evotec AG reached its first milestone under a diabetes alliance with Sanofi, triggering a €3 million milestone payment for achieving preclinical proof of concept.

The collaboration between the two companies, signed in August 2015, aims to develop a therapy based on the functional beta cells derived from human stem cells, Evotec said in a news release.