Evotec up on AZ kidney disease deal

Evotec AG (Xetra:EVT) gained EUR 0.35 (10%) to EUR 3.88 on Monday after announcing a deal with AstraZeneca plc (LSE:AZN; NYSE:AZN) focused on kidney diseases. The deal will initially focus on compounds and targets for chronic kidney disease (CKD). AstraZeneca will receive access to an undisclosed series of compounds identified by Evotec, and Evotec and AstraZeneca will co-develop the compounds. AstraZeneca will be responsible for commercialization. Evotec will receive research funding and an upfront payment, as well as milestones and royalties. Evotec declined to disclose further details. ...