OR WAIT null SECS
Agreement with Amgen includes payments possibly totaling over $240M
EVOQ Therapeutics has signed a license and collaboration contract with Amgen around the discovery and development of novel drugs for autoimmune disorders.
Under the terms of the agreement, Amgen and EVOQ will team up when it comes to preclinical development, while Amgen will be responsible for clinical development and commercialization. In exchange for exclusive rights to certain autoimmune programs, Amgen will make upfront and milestone payments potentially totaling more than $240 million, as well as pay royalties on sales of resulting therapies.
Amgen specializes in treating autoimmune disorders, with a résumé featuring Otezla and Enbrel, along with biosimilar products, such as AMGEVITA (a biosimilar to Humira) and AVSOLA (a biosimilar to Remicade). Michigan-based EVOQ Therapeutics is developing technology focused on the activation of dendritic cells. The two companies will work together to use dendritic cells to develop immune tolerance.