Pfizer Inc. (NYSE: PFE) has entered into a multi-year collaboration with Germany-based biotechnology company Evotec SE (F: EVT; Nasdaq: EVO), focusing initially on discovering new drug candidates for metabolic and infectious diseases. Evotec, known for its expertise in proteomics and metabolomics, will apply its capabilities to target first-in-class therapeutic approaches in this partnership. The agreement encompasses research funding, milestone payments, and royalties on future sales, though the financial details were not disclosed.
Evotec’s business model revolves around forming discovery partnerships, an approach that has seen the company collaborate with all of the top-20 multinational corporations and hundreds of global biotech firms. Evotec boasts a diverse portfolio of 200 proprietary and co-owned R&D projects, spanning from early discovery to clinical development stages.- Flcube.com
