Benzinga | Mar 1, 2021 05:22AM EST

Evotec, Chinook Therapeutics Ink Development Pact For Chronic Kidney Diseases Therapies

Chinook Therapeutics Inc (NASDAQ: KDNY) and Evotec SE (OTC:EVTCY) have collaborated for the discovery and development of precision medicine therapies for patients with chronic kidney diseases (CKD).

* Based on Evotec's proprietary comprehensive molecular datasets, Chinook and Evotec will jointly identify, characterize and validate novel mechanisms and discover and develop precision medicines.

* The collaboration will utilize Evotec's PanOmics platform, which combines throughput proteomics, high throughput transcriptomics, and cell imaging with PanHunter, its data analysis platform.

* Chinook will contribute drug discovery and development programs to the collaboration targeting rare kidney diseases such as IgA nephropathy and glomerular diseases.

* Under the terms of the agreement, Chinook and Evotec will share drug discovery and pre-clinical development responsibilities.

* Chinook will be responsible for the clinical development and commercialization of product candidates.

* Evotec will receive an undisclosed upfront payment, research funding, milestone payments, and tiered sales-based royalties.

* Price Action: KDNY shares closed 1.7% higher at $16.54, and EVTCY closed 0.8% lower at 77.45 on Friday.