Sector News

Sanofi and Evotec seal 250m-Euro strategic alliance

March 20, 2015
Life sciences
Sanofi and Evotec have now concluded negotiations over a five-year strategic alliance giving the German group 250 million Euros, including more than 40 million Euros upfront in cash.
 
The move will see Evotec acquire Sanofi’s troubled operations in Toulouse, to support collaborative research in drug discovery from screening to identification of preclinical candidates with the firm’s biotech, venture capital and academic partners. 
 
Evotec said it will provide a broad range of long-term drug discovery services to Sanofi over the next five years, centred on the core small-molecule discovery platforms in Toulouse, and will take over management of the French drugmaker’s global screening compound library.
 
And, in a “first-in class, ground-breaking ‘open innovation initiative’,” both groups will combine their libraries and offer them for screening to Evotec’s business partners, creating “one of the largest and most valuable sources of starting points for drug discovery with approx. 1,700,000 compounds available to screen”.
 
Elsewhere, Evotec and Sanofi will jointly push forward a portfolio of primarily cancer-related projects – including five advanced, preclinical projects and further discovery-stage assets – to Investigational New Drug status or other value inflection points before partnering them.
 
Werner Lanthaler, Evotec’s chief executive, said the transaction “supports our long-term strategic growth plans” and “brings significant value to [our] shareholders without the need for dilutive financing”, while Elias Zerhouni, President Global R&D for Sanofi, said it will “create a field of opportunities for our employees, while contributing to the vitality of the local ecosystem”.
 
By Selina McKee
 
Source: Pharma Times

1 response to “Sanofi and Evotec seal 250m-Euro strategic alliance

  • 187508 502418This design is spectacular! You certainly know how to keep a reader amused. Between your wit and your videos, I was almost moved to start my own blog (properly, almostHaHa!) Wonderful job. I really enjoyed what you had to say, and a lot more than that, how you presented it. Too cool! 288952

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 27, 2020

AbbVie lifts insider Jeffrey Stewart to commercial chief as company veteran Carlos Alban retires

Life sciences

AbbVie will soon have a new chief commercial officer, who’ll assume the heavy responsibility of navigating the Illinois pharma’s marketing transition from megablockbuster Humira.

November 27, 2020

Belgium biotech argenx nabs Bayer speedy review voucher for a cool $98M

Life sciences

The biotech, which has a series of deals across Big Pharma, will use the voucher, which can speed up the regulatory process for a new drug, for its late-stage drug efgartigimod—but not in the indication you might think.

November 27, 2020

Galapagos sells off Fidelta as CRO activities ‘no longer fit with its strategy’

Life sciences

Galapagos is selling off its contract research organization Fidelta for $37 million to Polish life science company Selvita. Fidelta focuses on inflammation, fibrosis and anti-infectives, with 181 employees at the helm.

Send this to a friend