(RTTNews) - Evotec's Seattle-based subsidiary, Just - Evotec Biologics Inc., launched a multi-year, long-term tech partnership with Sandoz for the immediate development and subsequent manufacturing of multiple biosimilars, Evotec SE (EVO) and Sandoz AG, a division of Novartis (NVS), said in a statement.
The partnership includes an option for the non-exclusive in-licensing of Just - Evotec Biologics' proprietary technology by Sandoz for building its fully-owned S.POD facility.
As per the deal, Just - Evotec Biologics will receive a double-digit-million upfront and future payments dependent on successful development progress of US$640 million as well as additional undisclosed payments dependent on progress into commercial manufacturing and exercising the S.POD option.
Evotec stated that the development of the biosimilars will ramp up over the coming 12-18 months at Just - Evotec Biologics' J.POD facilities.
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