Biogen Idec has joined forces with small molecule drug developer Evotec to identify promising molecules.

Under the terms of the agreement, Evotec’s technologies will be used in protein production, assay development and high throughput screening to identify molecules for Biogen.

There is the option to screen further targets as agreed. No financial details were disclosed.

The deal comes hours after the news that Biogen’s takeover bid of Facet was rejected.