(Reuters) – German drug and development company Evotec has entered into a technology development partnership with Novo Nordisk to support clinical and commercial manufacturing of stem cell-based therapies, the company said on Thursday.
Evotec will receive funding for technology development activities in Germany and Italy, research and development funding, an undisclosed upfront payment and possible milestone and royalty payments, it added.
In exchange, Novo Nordisk has an option to obtain exclusive rights to utilise results of the collaboration.
Shares in Evotec were up 6.9% at 0604 GMT in early Frankfurt trade after the announcement.
(Reporting by Isabel Demetz, Editing by Friederike Heine)
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