Wrestling with setbacks, Celgene adds $65M discovery alliance with Evotec to beef up on new cancer drugs
Celgene has added a $65 million upfront portion of oncology discovery work with Evotec, 18 months after the two companies allied on neurodegeneration work.
As is typically the case with Celgene $CELG and Evotec, there aren’t an awful lot of details to work with. There’s no mention about milestones in the two-paragraph release, other than a reference to “significant” biobucks. Given the size of the upfront, though, those back-ended milestones are likely to run into the hundreds of millions of dollars.
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