Evotec Announces Progress In Protein Degradation Partnership With Bristol Myers

(RTTNews) - Evotec SE (EVO) announced progress in strategic protein degradation partnership with Bristol Myers Squibb. Performance-based and program-based achievements trigger payments of in total US$75 million to Evotec.

The companies entered into strategic protein degradation partnership in 2018 and expanded it in May of 2022. Evotec has significantly scaled up its activities to develop highly promising compounds from Bristol Myers Squibb's library of cereblon E3 ligase modulators.

Evotec noted that the partnership continues to deliver on its goal to build a leading pipeline of novel molecular glue degraders, targeting targets in the field of oncology and beyond.