Evotec and Bristol Myers Squibb Extend and Expand Strategic Partnership
ACCESS Newswire
10 May 2022, 20:31 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, [email protected]
SOURCE: Evotec AG
View source version on accesswire.com:
https://www.accesswire.com/700772/Evotec-and-Bristol-Myers-Squibb-Extend-and-Expand-Strategic-Partnership
Share
Tweet
Share
Flip
Email
Subscribe and Follow
Get a daily dose of Chicago Chronicle 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 Chicago Chronicle.
More InformationRobinhood launches stock tokens for EU investors, adds OpenAI
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
Wall Street diverges, but techs advance Wednesday
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
Greenback slides amid tax bill fears, trade deal uncertainty
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...
Taliban seeks tourism revival despite safety, rights concerns
KABUL, Afghanistan: Afghanistan, long associated with war and instability, is quietly trying to rebrand itself as a destination for...
Nvidia execs sell $1 billion in stock as AI boom drives record prices
SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...
Tech stocks slide, industrials surge on Wall Street
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
China boosting purchases of Russian metals Bloomberg
Aluminum, copper and nickel shipments have surged this year, according to trade data Beijing has increased purchases of Russian metals...
Hindu spiritual leader receives New York City honour at interfaith event
By Reena Bhardwaj New York [US], June 29 (ANI): A prominent Hindu spiritual leader has been recognised by New York City officials...
China Sports Weekly (6.22-6.28)
BEIJING, June 28 (Xinhua) -- Here are the latest Chinese sports headlines from the past week: 1. China's Wang Xinyu finishes runner-up...
From crash site to decoding lab: India handling AI-171 probe entirely in the country
By Naveen Kapoor New Delhi [India], June 27 (ANI): The Aircraft Accident Investigation Bureau (AAIB) Lab in New Delhi, is currently...
Can Musks proposed America Party become a Republican party pooper
Elon Musk has threatened to launch a new party to undermine US President Donald Trump, following a falling out over a spending bill....
'Science refugees': French university welcomes first US researchers
Eight American researchers have arrived at a university in southern France, as the country pushes to offer science asylum to US academics...
