Under the contract, Just - Evotec Biologics will develop drug product prototype(s) from discovery through the execution of Phase 1 first-in-human trials.

Discovery activities will include both discovery of new mAbs using AI-driven de novo antibody design and the evaluation of existing mAbs. 

To enable rapid development, Just - Evotec Biologics will further leverage its technology platform, J.DESIGN, with activities including molecular optimization, cell line, and process development, at its development and manufacturing facility - J.POD Redmond, WA.

In addition, Evotec will leverage its pre-clinical and clinical biologics development capabilities. 

A first contract under the Accelerated Antibodies Program for developing mAbs against plague was awarded to Just - Evotec Biologics in September 2022.

The company will receive a double-digit million upfront and future payments of $640 million dependent on successful development progress and additional undisclosed payments dependent on progress into commercial manufacturing and exercise of the licensing option.

Price Action: EVO shares are up 2.71% at $11.39 during the premarket session on the last check Wednesday.