05:34 AM EDT, 04/30/2024 (MT Newswires) -- Evotec (EVO) and Bayer said Tuesday that they are shifting their 12-year collaboration to focus on the development of new treatments for cardiovascular diseases.

No financial terms were disclosed.

Under the agreement, the companies said they will each contribute drug targets and technology platforms to create new treatment options to build a set of precision cardiology therapies.

Bayer and the data-focused Evotec will share duties during the pre-clinical development of potential treatments while Bayer will be responsible for clinical development and commercialization, the companies said.

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