RTTNews | Jan 18, 2022 01:52AM EST

01:52 Tuesday, January 18, 2022 (RTTNews.com) - Evotec (EVTCY.PK, EVOTF.PK) has entered into a drug discovery collaboration with Eli Lilly and Company in the field of metabolic diseases with a focus on kidney diseases and diabetes. Evotec will be responsible for the discovery of potential drug candidates from targets identified by Lilly or by Evotec. Lilly reserves the right to select up to five programmes developed within this partnership and to continue with any subsequent development, and commercialisation.

Evotec will receive an undisclosed upfront payment. Also, the company will be eligible to receive success-based discovery development, regulatory and commercial milestone payments of up to $180 million per programme, and tiered royalties on net sales of any products resulting from the collaboration, for a potential overall value up to $1 billion.

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