Evotec Shares Rise After Partnership Announcement

Investing.com — Shares of Evotec (ETR:EVTG) rose on Thursday after the company announced a technology development partnership with Novo Nordisk (NYSE:NVO) in cell therapy.

At 5:08 am (0908 GMT), Evotec was trading 6% higher at €6.250.

Evotec will receive funding from Novo Nordisk for technology development activities in Germany and Italy, along with research and development support, an undisclosed upfront payment, and potential milestone and royalty payments.

“Together with Novo Nordisk, we are confident to be able to generate novel and robust technologies that will help deliver on the promise of stem cell-based therapies,” said Evotec’s Chief Scientific Officer, Dr. Cord Dohrmann.

In return, Novo Nordisk will have the option to secure exclusive rights to utilize the collaboration’s results.