PARIS (Reuters) - Sanofi and Evotec said they had started exclusive talks over accelerating research into the treatment of infectious diseases, and added on Thursday that they would form a new open innovation platform in this area, led by Evotec.
Sanofi will license its research into infectious diseases and its early-stage development portfolio, and the French group will also transfer its research unit dealing with this area over to Evotec.
Sanofi will pay Evotec an initial one-time cash upfront payment of 60 million euros ($74.4 million) and provide further significant long-term funding to develop portfolio, the companies added.
(Reporting by Sudip Kar-Gupta; Editing by Gopakumar Warrier)
