Skip to content

COVID-19: Evotec Share Price Jumps After Winning a Grant from Bill Gates Foundation

Nigel Frith Nigel Frith
Add as a preferred source on Google
COVID19 drug

Shares of Evotec SE (ETR: EVT) gained around 2% on Monday after the company said it secured a grant from the Bill & Melinda Gates Foundation.

Evotec will use funds to support its US-based subsidiary Just to work on identifying and developing potential monoclonal antibody drugs for the prevention of severe COVID-19.

“Evotec Biologics will use its proprietary software toolset Abacus™ to perform an in silico analysis of several lead candidate sequences of potent anti-SARS-CoV-2 mAbs provided to the foundation by several leading academic medical centres around the world.

“Abacus™ analysis will identify key sequences that can impact developability and, if required, make recommendations to optimise the anti-SARS-CoV-2 antibody candidates. In addition, Just – Evotec Biologics will perform cell line development for two lead molecules,” the company said in a statement.

Antibody drugs came into the spotlight after the U.S. President Donald Trump was treated with a cocktail of Regeneron’s antibody drugs.

Evotec share price gained around 2% on a coronavirus-related grant October 2020

Evotec share price gained over 2% to trade at €23.60 today.

PEOPLE WHO READ THIS ALSO VIEWED:

Nigel Frith
Nigel Frith
Team Member

Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.

Stay ahead of the markets

Sign up to our free Morning Markets email, every weekday before the open.