EVOTF - Evotec Almirall team up to discover therapies for skin diseases

Evotec (OTCPK:EVOTF) (NASDAQ:EVO) and Almirall (OTC:LBTSF) are collaborating to discover therapies for severe skin diseases. Under the agreement, Evotec will get an undisclosed upfront payment, research payments, and success-based milestones of potentially up to €230M per program and royalties on net sales. The companies said they aim to discover and develop novel therapies for severe skin diseases, including immune-mediated inflammatory conditions such as atopic dermatitis (eczema) and non-melanoma skin cancer such as basal cell carcinoma. The partnership will use Evotec's integrated multimodality platform and combine it with Almirall's expertise in medical dermatology. Both companies will contribute drug targets in the research process. Evotec will be responsible for drug discovery and pre-clinical development, while Almirall will lead the clinical development and marketing.

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Evotec, Almirall team up to discover therapies for skin diseases