EVOQ Announces License, Collaboration Agreement with Amgen

EVOQ Therapeutics announced a license and collaboration agreement with Amgen for the discovery and development of novel drugs for autoimmune disorders. Under the terms of the agreement, Amgen and EVOQ will collaborate on preclinical development and Amgen will be responsible for clinical development and commercialization. In exchange for exclusive rights to selected autoimmune programs, Amgen will make upfront and milestone payments potentially totaling more than $240 million, as well as pay royalties on sales of resulting therapies. Amgen is a world leader in the treatment of autoimmune disorders, with a portfolio that includes both innovative medicines, including Otezla® and Enbrel®, and biosimilar products, such as AMGEVITA® (a biosimilar to Humira®) and AVSOLA® (a biosimilar to Remicade®).