By Cecilia Butini

Shares in Evotec SE rose in early trading on Thursday after the German biotechnology company said that it has entered into an agreement with Janssen Biotech Inc. to develop immune-based therapies for oncology, which includes milestone payments of more than $350 million.

At 0956 GMT, shares jumped 6.4% to EUR18.82.

Therapies developed as a result of the partnership will be commercialized by Janssen, Evotec said.

Besides the commercial milestone payments, Evotec is entitled to an undisclosed upfront payment as well as tiered royalties on products resulting from the collaboration, it said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

January 26, 2023 05:25 ET (10:25 GMT)

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