By Cecilia Butini

Evotec SE said Tuesday that it has expanded a partnership originally signed in 2016 with Bristol Myers Squibb Co. for the development of treatments for neurodegenerative diseases, which could potentially result in a deal of $4 billion.

The German biotechnology company said the extension is for eight years, and that it will receive an upfront payment of $50 million, plus license and performance milestone payments for an undisclosed sum, and tiered royalties up to low double-digit percentages on product sales.

"Including the upfront and downstream performance milestone payments, the overall transaction results in a deal potential of $4 billion," Evotec said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

March 28, 2023 06:12 ET (10:12 GMT)

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