Evotec Get $40 Mln Payment As Bristol Myers Enters Global Licence Agreement

(RTTNews) - Evotec SE (EVO) announced that Bristol Myers Squibb Company (BMY) has exercised its option to enter into a global licence agreement, which covers selected late-stage discovery programmes within neuroscience. Bristol Myers Squibb has selected an undisclosed number of programmes that were developed using Evotec's precision medicine platforms for further development within the expanded collaboration. Evotec received a $40 million payment and is eligible to earn performance milestone payments, as well as tiered royalties up to low double-digit percentages on product sales.

The companies originally entered the neurodegeneration partnership in 2016. They extended and expanded the partnership for an additional 8 years in March.

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