Evotec and Bristol Myers Squibb Extend and Expand Strategic Partnership
ACCESSWIRE
11 May 2022, 01:01 GMT+10
HAMBURG, GERMANY / ACCESSWIRE / May 10, 2022 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE 000 566480 9, WKN 566480; NASDAQ:EVO) announces today that the Company has extended and expanded its partnership with Bristol Myers Squibb (BMY) in targeted protein degradation, originally signed in 2018.
Aim of the eight-year extension is to develop a broad pipeline of molecular glue degraders which are small, drug-like compounds. Bristol Myers Squibb is a leader in this field in particular based on its unique library CELMoD®.
Under the terms of the agreement, Evotec's proprietary EVO panOmics and EVO panHunter platforms as well as AI/ML-based drug discovery and development platforms will be leveraged.
Evotec receives an upfront payment of $ 200 m and expects to obtain further performance-based, near-term and programme-based milestone payments, resulting in a deal potential of $ 5 bn with additional tiered royalties on product sales.
- End of ad hoc release -
Contact: Dr Werner Lanthaler, Chief Executive Officer, Evotec SE, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49.(0)40.560 81-242, werner.lanthaler@evotec.com
SOURCE: Evotec AG
View source version on accesswire.com:
https://www.accesswire.com/700772/Evotec-and-Bristol-Myers-Squibb-Extend-and-Expand-Strategic-Partnership
Subscribe and Follow
Get a daily dose of Pennsylvania Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pennsylvania Sun.
More Information
82
℉
US war crimes unit investigates Russian actions in Ukraine
WASHINGTON D.C.: The U.S. State Department has announced the launch of a new program to capture and analyze evidence of ...
Popularity of Indonesian president sinks due to price rises
JAKARTA, Indonesia: A new poll released this week indicated that Indonesian President Joko Widodo's approval rating has hit a six-year ...
Tourist bus in Indonesia strikes billboard, 14 dead
EAST JAVA, Indonesia: A tourist bus crashed into a billboard on a highway on Indonesia's main island of Java this ...
Schools, restaurants in Belgrade evacuated following bomb threats
BELGRADE, Serbia: Belgrade was paralyzed this week by a series of bomb threats, including against schools, bridges, restaurants and a ...
Jeff Bezos tells Biden that inflation most hurts poor
WASHINGTON D.C.: In a tweet this week, Amazon founder Jeff Bezos criticized President Joe Biden for the second time in ...
As food prices rise, Iranians take to the streets to protest
TEHRAN, Iran: According to social media posts, protests that began last week across Iran over a reduction in state subsidies ...
U.S. stocks see-saw as dollar takes a dive
NEW YORK, New York - U.S. stocks again see-sawed on Thursday while the U.S. dollar rally took a well-deserved break."The ...
Falling sales causes Forbes to drop Samsung on list of tech companies
SEOUL, South Korea: Korean tech giant Samsung Electronics fell two places in Forbes' rankings of the World's Largest Tech Companies ...
Face masks return for workers at some Michigan auto factories
Detroit, Michigan: General Motors, Ford and Chrysler parent Stellantis NV said they are reinstating the face mask mandate for employees ...
South Korea president pledges aid to North in treating Covid outbreak
SEOUL, South Korea: As North Korea grapples with a severe COVID-19 outbreak, South Korean President Yoon Suk-yeol has said that ...
Asian stocks mostly plummet, as sellers take charge
SYDNEY, NSW, Australia - Stocks in Asia mostly sank on Thursday, following on from a rout on Wall Street overnight."There ...
REE Automotive to build commercial EV chassis plant in UK
LONDON, England: Israeli startup REE Automotive has announced that it will build an assembly plant for electric vehicles (EVs) in ...
