EVO - Evotec stock dips despite US DoD contract up to $49.9M to develop antibody for plague

September, 20 2022 06:35 AM Evotec SE

Evotec ( NASDAQ: EVO ) ( OTCPK:EVOTF ) said the U.S. Department of Defense (DOD) awarded it a contract worth up to $49.9M for the rapid development of monoclonal antibody (mAb)-based drug product prototypes targeting plague.
Under the agreement, Evotec's Seattle-based unit Just - Evotec Biologics will develop mAb-based drug product prototype(s) from sequence discovery or evaluation of existing mAbs to completion of phase 1 first-in-human (FIH) trials, the company said in a Sept. 20 press release.
To enable rapid development, Just - Evotec will use its data-driven, automated biologics technology platform J.DESIGN and continuous manufacturing at its J.POD Redmond, Washington (U.S.) facility.
Evotec will also provide pre-clinical and clinical capabilities for mAb prophylactic approvals.
The contract was awarded by the Joint Project Lead for CBRND Enabling Biotechnologies within the DOD's Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense in collaboration with the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority (BARDA).
EVO -5.24% to $9.41 premarket Sept. 20

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