09:26 AM EDT, 09/05/2024 (MT Newswires) -- Evotec (EVO) and X-Chem said Thursday they have signed a collaboration agreement for early-stage drug discovery.

Under the terms, X-Chem will offer its DNA-encoded library technology with Evotec's screening platforms to deliver optimal drug intervention starting points for biological targets, the companies added.

Financial terms of the partnership weren't disclosed.

Evotec shares rose nearly 5% in recent Thursday premarket activity.

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