Evolva Holding announced that Emergent BioSolutions has acquired Evolva’s anti-bacterial programme, the EV-035 series.
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The lead compound in the EV-035 series is the broad-spectrum antibiotic GC-072, which is being developed with US government biodefense funding.
For Evolva, this transaction is worth up to USD 70.5 million plus royalties.
Evolva will receive from Emergent an upfront payment of USD 1.5 million, an additional USD 4 million after the US government approves transfer of the GC-072 contract to Emergent, development milestone payments up to USD 65 million, and tiered royalties up to a maximum of 10% on product net sales generated from the EV-035 programme.
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