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

Practice Stock Trading
Updated: 19 October 2020

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.