- THE COLLABORATION ADDS TWO DRUG DISCOVERY PROJECTS TO THE PORTFOLIO AND DESIGNATES A TARGET-BASED PROGRAMME FOR DEVELOPMENT
- EVOTEC RECEIVES PAYMENTS IN TOTAL OF US$ 26 M FROM BRISTOL MYERS SQUIBB
Hamburg, Germany, 16 December 2022:
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) announced today that the Company has achieved further significant progress within its neuroscience collaboration with Bristol Myers Squibb (NYSE:BMY). The collaboration expands the portfolio by two additional drug discovery projects and has designated a target-based programme for further development, triggering payments in total of US$ 26 m to Evotec.
The collaboration was initiated in December 2016 with the goal of identifying disease-modifying treatments for a broad range of neurodegenerative diseases. Currently approved drugs only offer short-term management of the patients’ symptoms and there is a huge unmet medical need for treatments that slow down or reverse disease progression. The collaboration leverages Evotec’s precision medicine technologies for modality-agnostic drug discovery and development. A first programme originating from the collaboration, EVT8683, was in-licensed by Bristol Myers Squibb in September 2021, following the successful filing of an IND application with the FDA.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, said: “We are delighted to see that after six years our neuroscience collaboration with Bristol Myers Squibb continues to be highly productive across its entire value chain. This is a testament to the scientific excellence and dedication of the teams at Evotec and Bristol Myers Squibb. We are confident that the growing pipeline of promising development candidates will yield transformative therapeutic options for patients living with neurodegenerative conditions.”