Healthcare Industry News: HSMN NewsFeed
News Release - January 18, 2023
EVOQ Therapeutics and Amgen Expanding CollaborationMilestone payment received, license and collaboration agreement expanded
ANN ARBOR, Mich., Jan. 18, 2023 -- (Healthcare Sales & Marketing Network) -- EVOQ Therapeutics today announced the advancement of their ongoing license and collaboration agreement with Amgen for the discovery and development of novel therapeutics including the receipt of a milestone payment and expansion of the scope of collaboration to include a total of three indications in autoimmune disorders.
Amgen and EVOQ Therapeutics are collaborating on preclinical development of novel drugs using EVOQ's NanoDisc platform. Amgen is responsible for clinical development and commercialization of the resulting products. EVOQ Therapeutics granted Amgen exclusive rights to selected autoimmune programs and received an upfront payment along with milestone payments potentially totaling more than $240 million in addition to royalties on sales of resulting therapies.
Amgen is a leader in inflammation with an innovative and biosimilar portfolio that includes approved and investigational products for a range of autoimmune diseases. "We are very pleased to have achieved this important milestone in our collaboration with Amgen and we are excited to be moving each of the programs forward with our partner," said David Giljohann, Ph.D., CEO at EVOQ Therapeutics.
About EVOQ Therapeutics
EVOQ Therapeutics is advancing a pipeline of disease-specific immune modulators to treat patients afflicted with autoimmune diseases. EVOQ's technology platform utilizes a proprietary NanoDisc that has been engineered to optimize the delivery of disease specific antigens to restore immune tolerance. This announcement follows the recent announcement that JDRF will support and fund the development of EVOQ's technology for a next generation immunotherapy against Type 1 Diabetes.
For more information, please visit www.evoqtherapeutics.com
Source: EVOQ Therapeutics
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