06:01 AM EDT, 09/26/2024 (MT Newswires) -- Evotec (EVO) and Novo Nordisk ( NVO ) said Thursday they are partnering to develop off-the-shelf cell therapies for possible commercialization.

Financial terms of the deal were not disclosed.

Under the agreement, Novo Nordisk ( NVO ) will provide funding for Evotec's research and development site in Gottingen, Germany, and its cell therapy manufacturing plant in Modena, Italy.

Novo Nordisk ( NVO ) has the option for exclusive rights to the results of any collaboration for pre-defined therapies, the companies said. In addition to research funding, Evotec said it will receive an upfront payment as well as potential milestone and royalty payments.

Shares of Evotec were up more than 5% in Thursday premarket activity.

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