- EVOTEC AND BRISTOL MYERS SQUIBB ENTER EXCLUSIVE GLOBAL LICENCE AGREEMENT FOR SELECTED PROGRAMMES DEVELOPED AND PROGRESSED IN THE COLLABORATION
- SELECTED PROGRAMMES FURTHER STRENGTHEN THE PROGRAMME PIPELINE OF NEURODEGENERATION ASSETS
- EVOTEC RECEIVES $ 40 M PAYMENT AND IS ELIGIBLE TO EARN PERFORMANCE MILESTONE PAYMENTS, AS WELL AS TIERED ROYALTIES UP TO LOW DOUBLE-DIGIT PERCENTAGES ON PRODUCT SALES
HAMBURG, GERMANY / ACCESSWIRE / July 11, 2023 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ:EVO) today announced that Bristol Myers Squibb Company (NYSE:BMY) has exercised its option to enter into an exclusive global licence agreement. The licence covers selected late-stage discovery programmes that were developed and progressed within the collaboration.
Evotec and Bristol Myers Squibb originally entered their neurodegeneration partnership in 2016. The initial partnership proved highly productive in generating a promising pipeline of discovery to clinical-stage programmes. Based on this success, Bristol Myers Squibb and Evotec have extended and expanded the partnership for an additional 8 years in March to further broaden and deepen the strategic alliance.
Under the licence agreement, Bristol Myers Squibb has selected an undisclosed number of programmes that were rapidly developed and progressed using Evotec's precision medicine platforms for further development within the expanded collaboration. Evotec receives a $ 40 m payment and is eligible to earn performance milestone payments, as well as tiered royalties up to low double-digit percentages on product sales.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "This licence agreement will further bolster our joint pipeline of programmes targeting several neurodegenerative conditions. We are confident that the strong collaboration of the experienced teams at Evotec and Bristol Myers Squibb will make novel innovative treatment options available to patients living with a broad range of neurodegenerative conditions."
Evotec and Bristol Myers Squibb aim to identify disease-modifying treatments for a broad range of neurodegenerative diseases. Currently approved drugs only offer short-term management of patients' symptoms and there is a significant unmet medical need for therapies that slow down or reverse disease progression in the field of neurodegenerative diseases.
This partnership pursues an innovative approach to the discovery and development of novel medicines by leveraging several of Evotec's modality-agnostic precision medicine platforms. The partnership has already been successful in generating a pipeline of discovery and pre-clinical-stage programmes. A first programme, BMS-986419 or EVT8683, targeting eIF2b, was in-licensed by Bristol Myers Squibb in September 2021, following the successful filing of an IND application with the FDA and has proceeded into the clinical Phase I.
ABOUT EVOTEC SE
Evotec is a life science company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and make them available to the patients. The Company's multimodality platform comprises a unique combination of innovative technologies, data and science for the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. Evotec leverages this "Data-driven R&D Autobahn to Cures" for proprietary projects and within a network of partners including all Top 20 Pharma and over 800 biotechnology companies, academic institutions, as well as other healthcare stakeholders. Evotec has strategic activities in a broad range of currently underserved therapeutic areas, including e.g. neurology, oncology, as well as metabolic and infectious diseases. Within these areas of expertise, Evotec aims to create the world-leading co-owned pipeline for innovative therapeutics and has to-date established a portfolio of more than 200 proprietary and co-owned R&D projects from early discovery to clinical development. Evotec operates globally with more than 4,900 highly qualified people. The Company's 17 sites offer highly synergistic technologies and services and operate as complementary clusters of excellence. For additional information please go to www.evotec.com and follow us on Twitter @Evotec and LinkedIn.
This announcement contains forward-looking statements concerning future events, including the proposed offering and listing of Evotec's securities. Words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "should," "target," "would" and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding Evotec's expectations for revenues, Group EBITDA and unpartnered R&D expenses. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Evotec at the time these statements were made. No assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Evotec. Evotec expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Evotec's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
IR Contact Evotec SE:
Volker Braun, SVP Head of Global Investor Relations & ESG, [email protected]
SOURCE: Evotec SE