Sanofi in Exclusive Talks with Evotec to Create R&D Platform
By Sonia Amaral Rohter
Sanofi SA (SAN.FR) said Thursday that it is in exclusive talks with Evotec AG (EVT.XE) to create an infectious disease research-and-development platform.
The platform will be led by Evotec and Sanofi will pay the drug discovery alliance and development partnership company an initial, one-time, up-front cash payment of 60 million euros ($74.5 million), it said. Sanofi will also provide "significant further long-term funding" to support portfolio progression.
Under the agreement, Sanofi will retain certain option rights for the development, manufacturing and commercialization of anti-infective products.
As part of the agreement, Sanofi will license most of its infectious-disease research and early-stage development portfolio to Evotec, it said. The French company will transfer its infectious-disease research unit to Evotec, meaning that about 100 Sanofi employees will be moved as well. Sanofi's vaccine research and development unit and related projects aren't included in the transaction, it said.
The transaction is expected to close in the first half of year, subject to the finalization of definitive agreements and completion of the appropriate social process, Sanofi said.
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(END) Dow Jones Newswires
March 08, 2018 02:37 ET (07:37 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.