Kazia Therapeutics Limited entered into a worldwide exclusive licensing agreement and a master services agreement with Evotec SE, a small-molecule, first-in-class oncology drug candidate. Kazia expects to launch a phase I clinical trial of EVT801 in calendar year 2021. Evotec has granted Kazia an exclusive global worldwide license to develop, manufacture, and commercialise EVT801 in all territories and indications. Under the terms of the agreement, Kazia will pay an immediate upfront of EUR 1 million (AUD 1.6 million), contingent milestones of up to EUR 308 million (AUD 480 million) related to achievement of clinical, regulatory, and commercial outcomes over the lifetime of the drug, and a tiered single-digit royalty on net sales.