- TWO NOVEL SOLID TUMOUR TARGETS FROM THE PARTNERSHIP TRANSITION INTO DRUG DISCOVERY
- TARGETS IDENTIFIED AND VALIDATED THROUGH EVOTEC’S PROPRIETARY PANOMICS PLATFORM
Hamburg, Germany, 17 December, 2020:
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) today announced that the Company has achieved key milestones in its partnership with Bristol Myers Squibb in the field of targeted protein degradation with the first two targets transitioning into drug discovery after completing a comprehensive target validation process.
Evotec and Bristol Myers Squibb (the successor in interest to Celgene) initiated their long-term strategic drug discovery and development partnership in the field of targeted protein degradation in 2018 with the goal to identify novel drug targets. The partnership leverages Evotec’s proprietary PanOmics platform, which combines enhanced throughput proteomics, high throughput transcriptomics and cell imaging with an integrated data analysis platform PanHunter. This has enabled the generation of a pipeline of novel first-in-class targeted protein degradation projects.
The first two projects have now transitioned into lead optimisation after completing a comprehensive validation process on Evotec’s platforms. Targeted degradation of these novel targets impacts an established cancer pathway with the promise of providing new therapeutic options for difficult-to-treat breast cancers. Evotec will be responsible for progressing the drug discovery programmes to IND filing.
Evotec receives undisclosed milestone payments as well as research funding for the further development of the programmes and can earn further significant success-based milestone payments. Additionally, Evotec is entitled to tiered, potentially double-digit royalties of the net sales of programmes developed under the partnership.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: “We are extremely pleased with the progress of this unique and very exciting collaboration with Bristol Myers Squibb. Our PanOmics approach to targeted protein degradation is based on proprietary enhanced and high throughput multi-omics and phenotypic imaging platforms which allow unbiased and comprehensive profiling of novel targets and drug candidates. We are optimistic that many more projects will be taken forward as the collaboration advances and highly appreciate the opportunity to work with the world-leading company in targeted protein degradation.”