Evotec Receives Milestone Payment for First Patient Dosed in Phase I Study of Bayer Kidney Disease Programme
Portfolio Pulse from Benzinga Newsdesk
Evotec SE announced that it will receive a €2m milestone payment from Bayer AG, triggered by the first patient dosed in the Phase I study of a kidney disease programme. The drug candidate, a monoclonal antibody targeting the protein Semaphorin-3A, is being developed as a potential treatment for Alport syndrome, a rare genetic kidney disease.
June 29, 2023 | 7:19 am
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Evotec's milestone payment from Bayer could boost its revenues and potentially its stock price.
The milestone payment from Bayer is a positive development for Evotec. It not only provides a financial boost but also validates the progress of their kidney disease programme. This could increase investor confidence and potentially drive the stock price up.
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