- EVOTEC AND BRISTOL MYERS SQUIBB ENTER EXCLUSIVE GLOBAL LICENCE AGREEMENT FOR SELECTED PROGRAMMES DEVELOPED AND PROGRESSED IN THE COLLABORATION
- SELECTED PROGRAMMES FURTHER STRENGTHEN THE PROGRAMME PIPELINE OF NEURODEGENERATION ASSETS
- EVOTEC RECEIVES $ 40 M PAYMENT AND IS ELIGIBLE TO EARN PERFORMANCE MILESTONE PAYMENTS, AS WELL AS TIERED ROYALTIES UP TO LOW DOUBLE-DIGIT PERCENTAGES ON PRODUCT SALES
Hamburg, Germany, 11 July 2023:
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) today announced that Bristol Myers Squibb Company (NYSE:BMY) has exercised its option to enter into an exclusive global licence agreement. The licence covers selected late-stage discovery programmes that were developed and progressed within the collaboration.
Evotec and Bristol Myers Squibb originally entered their neurodegeneration partnership in 2016. The initial partnership proved highly productive in generating a promising pipeline of discovery to clinical-stage programmes. Based on this success, Bristol Myers Squibb and Evotec have extended and expanded the partnership for an additional 8 years in March to further broaden and deepen the strategic alliance.
Under the licence agreement, Bristol Myers Squibb has selected an undisclosed number of programmes that were rapidly developed and progressed using Evotec’s precision medicine platforms for further development within the expanded collaboration. Evotec receives a $ 40 m payment and is eligible to earn performance milestone payments, as well as tiered royalties up to low double-digit percentages on product sales.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: “This licence agreement will further bolster our joint pipeline of programmes targeting several neurodegenerative conditions. We are confident that the strong collaboration of the experienced teams at Evotec and Bristol Myers Squibb will make novel innovative treatment options available to patients living with a broad range of neurodegenerative conditions.”
Evotec and Bristol Myers Squibb aim to identify disease-modifying treatments for a broad range of neurodegenerative diseases. Currently approved drugs only offer short-term management of patients’ symptoms and there is a significant unmet medical need for therapies that slow down or reverse disease progression in the field of neurodegenerative diseases.
This partnership pursues an innovative approach to the discovery and development of novel medicines by leveraging several of Evotec’s modality-agnostic precision medicine platforms. The partnership has already been successful in generating a pipeline of discovery and pre-clinical-stage programmes. A first programme, BMS-986419 or EVT8683, targeting eIF2b, was in-licensed by Bristol Myers Squibb in September 2021, following the successful filing of an IND application with the FDA and has proceeded into the clinical Phase I.