Evotec and Takeda enter drug discovery deal

Evotec SE and Takeda Pharmaceutical Company Ltd have entered a strategic drug discovery collaboration potentially worth $850m. Under the agreement, Evotec will develop at least five small molecule discovery programmes against targets identified by Takeda in oncology, gastroenterology, neuroscience and rare diseases. Takeda will have the option to assume responsibility at lead series and upon Evotec delivering a pre-clinical candidate. Under the terms of the collaboration, Takeda will pay Evotec an undiclosed upfront fee to get access to its platforms. Additionally, Evotec is eligible to receive pre-clinical, clinical, and commercial milestones that can total in excess of $170 m per programme as well as tiered royalties on future sales.