By Colin Kellaher

Privately held biopharmaceutical company EVOQ Therapeutics said it signed a license and collaboration agreement with Amgen Inc. aimed at the discovery and development of novel drugs for autoimmune disorders.

EVOQ, based in Ann Arbor, Mich., on Wednesday said it will receive upfront and milestone payments potentially totaling more than $240 million, along with royalties on sales of therapies resulting from the collaboration.

Thousand Oaks, Calif., biotechnology company Amgen will work with EVOQ on preclinical development and will be responsible for clinical development and commercialization, EVOQ said.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

01-13-21 0711ET