Sanofi in Exclusive Talks with Evotec to Create R&D Platform
March 08 2018 - 02:52AM
Dow Jones News
By Sonia Amaral Rohter
Sanofi SA (SAN.FR) said Thursday that it is in exclusive talks
with Evotec AG (EVT.XE) to create an infectious disease
research-and-development platform.
The platform will be led by Evotec and Sanofi will pay the drug
discovery alliance and development partnership company an initial,
one-time, up-front cash payment of 60 million euros ($74.5
million), it said. Sanofi will also provide "significant further
long-term funding" to support portfolio progression.
Under the agreement, Sanofi will retain certain option rights
for the development, manufacturing and commercialization of
anti-infective products.
As part of the agreement, Sanofi will license most of its
infectious-disease research and early-stage development portfolio
to Evotec, it said. The French company will transfer its
infectious-disease research unit to Evotec, meaning that about 100
Sanofi employees will be moved as well. Sanofi's vaccine research
and development unit and related projects aren't included in the
transaction, it said.
The transaction is expected to close in the first half of year,
subject to the finalization of definitive agreements and completion
of the appropriate social process, Sanofi said.
Write to Sonia Amaral Rohter at
sonia.amaralrohter@dowjones.com
(END) Dow Jones Newswires
March 08, 2018 02:37 ET (07:37 GMT)
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