What's Going On With Life Science Company Evotec Stock Today?

Evotec SE EVO joined forces with the Crohn's & Colitis Foundation to advance drug discovery and identify novel therapies for inflammatory bowel disease (IBD). No financial terms of the collaboration were disclosed.

This initiative translates academic research identified by the Foundation into healthcare solutions.

This partnership utilizes Evotec's R&D platform to enhance drug development for two novel drug targets aimed at significant unmet medical needs in Crohn's disease and ulcerative colitis patients.

These targets focus on fibrosis, an excessive build-up of scar tissue in the intestinal wall, and compromised intestinal barrier function, resulting in increased intestinal permeability, commonly referred to as "leaky gut."

"As we join forces within the Foundation in this second collaboration, we are fully aligned on our mission to create access to novel therapeutics and look forward to leveraging both Evotec's translational experience as well as our fully integrated drug discovery powerhouse within the Foundation's IBD Therapeutics Incubator," Matthias Evers, Chief Business Officer of Evotec, commented.

"We are excited about this collaboration with Evotec as part of the Foundation's IBD Therapeutics Incubator because it will transform ideas to therapeutic product opportunities and scientific research into patient solutions," said Andrés Hurtado Lorenzo, Senior Vice President, Translational Research & IBD Ventures at the Crohn's & Colitis Foundation.

Price Action: EVO shares are trading lower by 2.53% to $9.530 on the last check Wednesday.