Latest EVOQ Therapeutics News
Jan 18, 2021
USA-based EVOQ Therapeutics has entered into a license and collaboration agreement with biotech major Amgen for the discovery and development of novel drugs for autoimmune disorders. Under the terms of the accord, Amgen and EVOQ will collaborate on pre-clinical development and Amgen will be responsible for clinical development and commercialization. In exchange for exclusive rights to selected 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 is a world leader in the treatment of autoimmune disorders, with a portfolio that includes innovative medicines, including Otezla (apremilast), which it picked up from Celgene after it merged with Bristol Myers Squibb in 2019. It also has Enbrel (etanercept), and biosimilar products, such as Amgevita, a biosimilar to Humira (adalimumab)) and Avsola, a biosimilar to Remicade.