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

May. 1, 2012

May 2, 2012: The Chinese firm Conba Pharmaceutical has obtained exclusive China rights to EVT 401 from Evotec, 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 double-digit royalties on net sales. Conba plans to initiate clinical trials with EVT 401 in China for inflammatory diseases in the near future.