Evotec and Bristol Myers Squibb Expand Proteomics Partnership
Evotec SE announced progress in its strategic partnership with Bristol Myers Squibb for molecular glue degraders development. The expansion beyond oncology triggered a US$ 50 million payment to Evotec. The collaboration, initiated in 2018 and expanded in 2022, focuses on developing compounds from Bristol Myers Squibb's CELMoDs™ library. The partnership aims to maintain leadership in the field by creating novel molecular glue degraders for high-value targets, emphasizing therapeutic applications beyond oncology with significant unmet medical needs.
Evotec SE ha annunciato progressi nella sua partnership strategica con Bristol Myers Squibb per lo sviluppo di degradatori di molecole a colla. L'espansione oltre l'oncologia ha innescato un pagamento di 50 milioni di dollari statunitensi a Evotec. La collaborazione, avviata nel 2018 e ampliata nel 2022, si concentra sullo sviluppo di composti dalla libreria CELMoDs™ di Bristol Myers Squibb. L'obiettivo della partnership è mantenere il leadership nel campo creando nuovi degradatori di molecole a colla per obiettivi ad alto valore, enfatizzando applicazioni terapeutiche oltre l'oncologia con significative esigenze mediche non soddisfatte.
Evotec SE anunció avances en su asociación estratégica con Bristol Myers Squibb para el desarrollo de degradadores de pegamento molecular. La expansión más allá de la oncología provocó un pago de 50 millones de dólares estadounidenses a Evotec. La colaboración, iniciada en 2018 y ampliada en 2022, se centra en el desarrollo de compuestos de la biblioteca CELMoDs™ de Bristol Myers Squibb. El objetivo de la asociación es mantener el liderazgo en el campo creando nuevos degradadores de pegamento molecular para objetivos de alto valor, enfatizando aplicaciones terapéuticas más allá de la oncología con necesidades médicas no satisfechas significativas.
Evotec SE는 분자 접착제 분해제 개발을 위해 Bristol Myers Squibb와의 전략적 파트너십에서 진전을 발표했습니다. 종양학을 넘어선 확장은 5천만 달러의 지급을 Evotec에 촉발했습니다. 2018년에 시작되고 2022년에 확장된 이 협력은 Bristol Myers Squibb의 CELMoDs™ 라이브러리에서 화합물 개발에 초점을 맞추고 있습니다. 이 파트너십은 높은 가치의 표적을 위한 새로운 분자 접착제 분해제를 생성하여 해당 분야의 리더십을 유지하는 것을 목표로 하며, 의학적 요구가 중요한 종양학 외의 치료적 응용에 중점을 두고 있습니다.
Evotec SE a annoncé des avancées dans son partenariat stratégique avec Bristol Myers Squibb pour le développement de dégradateurs moléculaires. L'expansion au-delà de l'oncologie a déclenché un paiement de 50 millions de dollars américains à Evotec. La collaboration, initiée en 2018 et élargie en 2022, se concentre sur le développement de composés de la bibliothèque CELMoDs™ de Bristol Myers Squibb. L'objectif du partenariat est de maintenir un leadership dans le domaine en créant de nouveaux dégradateurs moléculaires pour des cibles de grande valeur, en mettant l'accent sur des applications thérapeutiques en dehors de l'oncologie avec des besoins médicaux importants non satisfaits.
Evotec SE hat Fortschritte in seiner strategischen Partnerschaft mit Bristol Myers Squibb für die Entwicklung von molekularen Kleberabbauern bekannt gegeben. Die Expansion über die Onkologie hinaus führte zu einer Zahlung von 50 Millionen US-Dollar an Evotec. Die 2018 gestartete und 2022 erweiterte Zusammenarbeit konzentriert sich auf die Entwicklung von Verbindungen aus der CELMoDs™-Bibliothek von Bristol Myers Squibb. Das Ziel der Partnerschaft ist es, die Führungsposition im Bereich durch die Schaffung neuer molekularer Kleberabbauer für wertvolle Zielstrukturen zu halten und therapeutische Anwendungen außerhalb der Onkologie mit erheblichen ungedeckten medizinischen Bedürfnissen zu betonen.
- Received US$ 50 million payment from Bristol Myers Squibb
- Expansion of partnership beyond oncology applications
- Additional potential program-based milestone payments
- None.
Insights
The
- Oral administration route improves patient compliance
- Drug-like properties enhance development potential
- Novel mechanism of action addresses previously "undruggable" targets
This deal expansion represents significant near-term value through the
Key scientific achievements drive the expansion of the pipeline of molecular glue degraders in fields beyond oncology
Evotec receives a US
$ 50 m payment from Bristol Myers Squibb; potential programme-based milestone payments contribute to the deal value
HAMBURG, GERMANY / ACCESSWIRE / October 23, 2024 / Evotec SE (Frankfurt Stock Exchange:EVT)(MDAX/TecDAX, ISIN: DE0005664809)(NASDAQ:EVO) today announced progress within the Company's strategic partnership with Bristol Myers Squibb relating to building a molecular glue-based pipeline. Key scientific achievements drive the expansion of the pipeline of molecular glue degraders in fields beyond oncology, triggering a programme-based payment of US
Evotec and Bristol Myers Squibb entered their strategic protein degradation partnership in 2018 and expanded it in May of 2022, because of the highly productive initial collaboration generating a promising pipeline. Since the expansion, Evotec has significantly scaled up its activities to develop highly promising compounds from Bristol Myers Squibb's industry-leading library of cereblon E3 ligase modulators ("CELMoDs™"). The partnership continues to deliver on its goal to maintain leadership in the field, adding a broad pipeline of novel molecular glue degraders for high-value targets, in this case for fields beyond oncology.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are delighted to expand our successful partnership with Bristol Myers Squibb into fields beyond oncology with a significant unmet medical need. The unique mode of action, combined with drug-likeness and oral administration make molecular glue degraders a promising and versatile therapeutic option. Our partnership with BMS continues to build an extraordinary pipeline of first-in-class product opportunities and we look forward to driving the joint portfolio of programmes towards clinical validation for the benefit of patients."
About molecular glue degraders
Conventional small molecule therapeutics work via a drug-induced interference with a protein activity. This limitation to agonistic or antagonistic functions renders about
Molecular glue degraders are compounds that induce interactions between an E3 ubiquitin ligase and a molecular target. The induced interaction results in ubiquitination and subsequent degradation of the recruited protein. Through this mechanism of action molecular glues are not restricted to the agonistic/antagonistic features of a protein, thus massively expanding the range of the druggable proteome. Also, the molecular glue itself is not degraded in the process and can trigger the degradation process several times over, thus leading to longer-lasting therapeutic effects.
About Evotec's strategic partnership with Bristol Myers Squibb in molecular glues
In 2018, Evotec entered a long-term strategic drug discovery and development partnership in the field of molecular glues with Celgene, now Bristol Myers Squibb. Bristol Myers Squibb is a leader in this field based on its unique library of cereblon E3 ligase modulators (CELMoDs™). The aim of this strategic alliance is to discover and develop a leading pipeline of molecular glue degraders for a range of therapeutic indications leveraging all of Evotec's proprietary PanOmics and PanHunter platforms as well as A.I./M.L.-based drug discovery and development capabilities.
Evotec applies high-end proteomics and transcriptomics at industrial scale to profile and select promising drug candidates based on comprehensive cell biological profiles. Evotec's leading PanOmics screening capabilities are delivering unmatched throughput. The selection of the most promising candidates for drug development is facilitated by Evotec's PanOmics data analysis platform PanHunter, which was recently launched commercially as a software-as-a-service ("SAAS") solution. PanHunter supports the integration and analysis of these data sets and thereby enables the selection of the most promising CELMoDs™ for further progression into lead optimisation.
Evotec announced in May of 2022 that the Company has further extended and expanded its partnership with Bristol Myers Squibb for another 8 years as the initial collaboration proved to be highly productive in generating a promising pipeline of molecular glue degraders.
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 provides high value pipeline co-creating partnerships and solutions to 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 5,000 highly qualified people. The Company's sites in Europe and the USA offer highly synergistic technologies and services and operate as complementary clusters of excellence. For additional information please go to www.evotec.comand follow us on X/Twitter @Evotecand LinkedIn.
Forward-looking statements
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.
For further information, please contact:
Investor Relations
Volker Braun
EVP Head of Global Investor Relations & ESG
Volker.Braun@evotec.com
Media
Susanne Kreuter
VP Head of Strategic Marketing
Susanne.Kreuter@evotec.com
SOURCE: Evotec SE
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FAQ
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