Conba Pharmaceutical Licenses Drug from Evotec for $95M Plus Royalties

Conba Pharmaceutical has obtained exclusive China rights to EVT 401 from Evotec AG, a German drug discovery and development company. According to the agreement, Evotec will receive a small upfront payment, as well as development and commercial milestone payments with a total deal value exceeding $95 million (60 million Euros) plus tiered double-digit royalties on net sales. Conba plans to initiate clinical trials with EVT 401 in China for inflammatory diseases in the near future. Detailed financial terms were not disclosed. Stock Symbol: (Frankfurt: EVT) Share this with colleagues: var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});