- Evolva completes transfer of EV-035 to Emergent BioSolutions, triggering a USD 4 million payment
Evolva completes transfer of EV-035 to Emergent BioSolutions, triggering a USD 4 million payment
Evolva (SIX: EVE) today announces the US government’s approval of the transfer (“novation”) of the GC-072 contract to Emergent BioSolutions Inc. (NYSE: EBS). This triggers a payment of USD 4 million to Evolva, following an initial upfront payment of USD 1.5 million in December 2014. This does not change the revenue guidance for 2015.
In December 2014, Emergent acquired Evolva’s anti-bacterial programme, the EV-035 series in a transaction worth up to USD 70.5 million plus royalties. The lead compound in the EV-035 series is the broad-spectrum antibiotic GC-072, which is being developed with US government biodefense funding. Emergent will now have full responsibility for this contract.
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Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, resveratrol, vanillin, nootkatone and saffron. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com. Questions about our fermentation approach? Have a look at our video.
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|Jakob Dynnes Hansen
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