Evotec grants J&J unit rights to NMDA portfolio

Evotec AG (Xetra:EVT) granted Janssen Pharmaceuticals Inc. exclusive, worldwide rights to develop and commercialize Evotec's portfolio of oral small molecule NMDA receptor NR2B subtype antagonists for depressive disorders. Evotec will receive $2 million up front and is eligible for $6 million in preclinical milestones and up to $67 million in clinical, regulatory and launch milestones. The company is also eligible for an additional $100 million in commercial milestones and up to double-digit royalties. Janssen is a unit of Johnson & Johnson (NYSE:JNJ). Evotec was up EUR 0.01 to EUR 2.75 on Monday. ...