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C4X Discovery strengthens drug discovery alliance with Evotec

The new agreement builds on the strategic alliance between the two companies announced in January last year.

Drug testing
C4X and Evotec will work together to develop new small molecule drugs

C4X Discovery Holdings plc (LON:C4XD) has expanded its collaboration with Evotec AG, a drug discovery partnership company, in a multi-target, risk-sharing alliance.

The new agreement builds on the strategic partnership between the two companies announced in January last year.

C4X and Evotec will work together to develop new small molecule drugs across a range of targets and stages of development, initially targeting treatment of cancer and autoimmune diseases.

C4X will utilise Evotec’s screening technologies and laboratory scientists for selected programmes, in return for funding to partially cover operational costs, milestones dependent on developmental success and a share of potential future royalties.The alliance will see a minimum of three projects active at any point in time.

Each programme will run until the point of Potential Development Candidate nomination, after which C4X, will have the right to out-license successful projects to the pharma industry or proceed to clinical studies on a case-by-case basis, consistent with C4X’s current approach. C4X will retain all IP.

“We have already identified the first three small molecule targets and the combination of our unique technologies and the infrastructure and expertise that Evotec has in place will enable us to accelerate the development of novel small molecule drug candidates,” said C4X chief executive Clive Dix.

Dix added: "We are delighted to expand on our successful relationship with Evotec through this alliance that is designed to support us in achieving our vision of becoming the world's most productive drug discovery engine.”

German-listed Evotec has a market cap of more than €600mln (£515mln). In 2015, it made €127.7mln in revenues. It has the largest chemistry operation in the whole of the UK life science sector, including large pharma, and has most of the world's top-20 drug companies among its clients.  

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Price: 12.25 GBX

AIM:C4XD
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Market Cap: £13.27 m
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on 25/10/19

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