BioWorld International Correspondent
MUNICH, Germany - MediGene AG has secured the cooperation of Evotec OAI AG in launching a new company out of MediGene's recently spun off cardiological drug discovery program. The new company will be known as Genovation.
MediGene, of Martinsried, and Evotec, of Hamburg, described their cooperation as a strategic partnership. Under the terms of the agreement, Evotec will hold up to 15 percent of Genovation. Evotec will contribute expertise in drug discovery and will conclude an exclusive service agreement to carry out chemical screening and substance optimization procedures. No additional financial terms were disclosed.
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