EVO - Boehringer Evotec bioMérieux form joint venture Aurobac to combat antimicrobial resistance

• Boehringer Ingelheim, Evotec ( NASDAQ: EVO ) ( OTCPK:EVOTF ) and bioMérieux formed a joint venture called Aurobac Therapeutics SAS to develop antimicrobials and diagnostics to fight Antimicrobial Resistance (AMR).
• Aurobac, which will develop a new precision medicine approach from diagnosis to cure, was funded with €40M in total with Boehringer Ingelheim investing €30M and Evotec and bioMérieux funding €5M each, according to the companies' July 6 press release.
• "Our role within the joint venture is to develop and commercialize diagnostic tests, including Companion Diagnostics, which deliver rapid, reliable and actionable results," said bioMérieux Chairman and CEO Alexandre Mérieux.
• Boehringer's participation in Aurobac is part of a wider pandemic preparedness initiative, which includes a €50M investment in AMR. Boehringer Ingelheim Venture Fund has committed to invest up to €12M in AMR infection companies.

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