Evotec Shares Soar Following Technology Partnership with Novo Nordisk

Shares of Evotec experienced a rise on Thursday following the announcement of a technology development partnership with Novo Nordisk focused on cell therapy.

As of 5:08 am (0908 GMT), Evotec’s shares were up by 6%, trading at €6.250.

Under the agreement, Evotec will receive funding from Novo Nordisk for technology development activities in Germany and Italy. This includes research and development support, an undisclosed upfront payment, along with potential milestone and royalty payments.

Dr. Cord Dohrmann, Evotec’s chief scientific officer, expressed confidence in the partnership, stating, “Together with Novo Nordisk, we are confident to be able to generate novel and robust technologies that will help deliver on the promise of stem cell-based therapies.”

In exchange, Novo Nordisk will have the option to secure exclusive rights to the results of the collaboration.