EVO - Evotec teams up with Sernova to develop diabetes therapy commits Euro20M equity investment

Germany-based Evotec (NASDAQ:EVO) (OTCPK:EVOTF) and Canada's Sernova (OTCQB:SEOVF) are collaborating to develop a therapy for diabetes. The companies plan to develop an implantable iPSC-based beta cell replacement therapy to treat insulin-dependent diabetes, including type 1 and 2. Under the partnership, Evotec's Induced Pluripotent Stem Cell (iPSC)-based beta cells will be combined with Sernova's proprietary Cell Pouch, an implantable and scalable medical device. Sernova acquired an option for an exclusive global license to Evotec's iPSC-based Beta cells for use with its Cell Pouch system to treat diabetes. The companies said the pre-clinical development program(s) will be jointly funded until investigational new drug (IND) application acceptance. Sernova has the right to exercise its option for an exclusive global license upon IND filing. Evotec will provide cell manufacturing through commercialization and decide in the future if it wants to joint fund the clinical development. Following commercialization, the two companies will share profits, with the

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Evotec teams up with Sernova to develop diabetes therapy, commits €20M equity investment