Evotec Announces Significant Progress in Strategic Protein Degradation Collaboration with Bristol Myers Squibb
Evotec SE (NASDAQ:EVO) has announced significant progress in its strategic research collaboration with Bristol Myers Squibb, triggering total payments of US$ 75 million to Evotec through performance-based and program-based achievements.
The collaboration, initiated in 2018 and expanded in 2022, combines Evotec's high-performance multi-omics screening and AI-supported data analytics with Bristol Myers Squibb's cereblon E3 ligase modulators (CELMoDs™) library. The partnership focuses on developing molecular glue degraders for high-value targets in oncology and other therapeutic areas.
The collaboration continues to advance its pipeline of molecular degraders, aiming to deliver multiple first-in-class products to market for unmet medical needs.
Evotec SE (NASDAQ:EVO) ha annunciato importanti progressi nella sua collaborazione strategica con Bristol Myers Squibb, che hanno comportato pagamenti totali di 75 milioni di dollari USA a Evotec basati su risultati di performance e traguardi di programma.
La collaborazione, avviata nel 2018 e ampliata nel 2022, unisce il sistema di screening multi-omico ad alte prestazioni e l'analisi dati supportata dall'IA di Evotec con la libreria di modulatore della ligasi E3 cereblon (CELMoDs™) di Bristol Myers Squibb. La partnership si concentra sullo sviluppo di degradatori molecolari adesivi per obiettivi di alto valore in oncologia e altre aree terapeutiche.
La collaborazione continua a far progredire il suo portafoglio di degradatori molecolari, con l'obiettivo di portare sul mercato diversi prodotti innovativi di prima classe per bisogni medici ancora insoddisfatti.
Evotec SE (NASDAQ:EVO) ha anunciado avances significativos en su colaboración estratégica con Bristol Myers Squibb, lo que ha generado pagos totales de 75 millones de dólares estadounidenses a Evotec basados en logros por desempeño y por programa.
La colaboración, iniciada en 2018 y ampliada en 2022, combina el sistema de cribado multi-ómico de alto rendimiento y el análisis de datos asistido por IA de Evotec con la biblioteca de moduladores de ligasa E3 cereblon (CELMoDs™) de Bristol Myers Squibb. La asociación se centra en desarrollar degradadores moleculares adhesivos para objetivos de alto valor en oncología y otras áreas terapéuticas.
La colaboración sigue avanzando en su cartera de degradadores moleculares, con el objetivo de lanzar al mercado múltiples productos innovadores de primera clase para necesidades médicas no cubiertas.
Evotec SE (NASDAQ:EVO)는 Bristol Myers Squibb와의 전략적 연구 협력에서 중요한 진전을 발표했으며, 성과 기반 및 프로그램 기반 달성에 따라 Evotec에 총 7,500만 미국 달러의 지급이 이루어졌습니다.
2018년에 시작되어 2022년에 확장된 이번 협력은 Evotec의 고성능 멀티오믹스 스크리닝과 AI 지원 데이터 분석 기술을 Bristol Myers Squibb의 세레블론 E3 리가제 조절제(CELMoDs™) 라이브러리와 결합합니다. 이 파트너십은 종양학 및 기타 치료 분야에서 가치가 높은 표적을 위한 분자 글루 분해제 개발에 중점을 두고 있습니다.
이 협력은 분자 분해제 파이프라인을 지속적으로 발전시키며, 충족되지 않은 의료 수요를 위한 다수의 최초 클래스 제품을 시장에 선보이는 것을 목표로 하고 있습니다.
Evotec SE (NASDAQ:EVO) a annoncé des progrès significatifs dans sa collaboration stratégique avec Bristol Myers Squibb, déclenchant des paiements totaux de 75 millions de dollars US à Evotec basés sur des résultats liés à la performance et aux programmes.
Cette collaboration, lancée en 2018 et étendue en 2022, combine le criblage multi-omique à haute performance et l'analyse de données assistée par IA d'Evotec avec la bibliothèque de modulateurs de ligase E3 cereblon (CELMoDs™) de Bristol Myers Squibb. Le partenariat se concentre sur le développement de dégradeurs moléculaires adhésifs pour des cibles de grande valeur en oncologie et dans d'autres domaines thérapeutiques.
La collaboration continue de faire progresser son pipeline de dégradeurs moléculaires, visant à commercialiser plusieurs produits innovants de première classe pour répondre à des besoins médicaux non satisfaits.
Evotec SE (NASDAQ:EVO) hat bedeutende Fortschritte in seiner strategischen Forschungskooperation mit Bristol Myers Squibb bekannt gegeben, wodurch Evotec insgesamt 75 Millionen US-Dollar an leistungs- und programmbasierten Zahlungen erhalten hat.
Die Zusammenarbeit, die 2018 begann und 2022 erweitert wurde, verbindet Evotecs leistungsstarkes Multi-Omics-Screening und KI-gestützte Datenanalyse mit der Cereblon E3-Ligasen-Modulatoren (CELMoDs™) Bibliothek von Bristol Myers Squibb. Die Partnerschaft konzentriert sich auf die Entwicklung von molekularen Klebstoff-Degradatoren für hochkarätige Ziele in der Onkologie und anderen therapeutischen Bereichen.
Die Kooperation treibt weiterhin ihre Pipeline an molekularen Degradatoren voran, mit dem Ziel, mehrere erstklassige Produkte für ungedeckte medizinische Bedürfnisse auf den Markt zu bringen.
- Received significant milestone payment of US$ 75 million
- Successful progress in high-value molecular glue degrader pipeline
- Expansion of strategic collaboration with major pharmaceutical company Bristol Myers Squibb
- None.
Insights
Evotec received $75M milestone payment from BMS, validating their molecular glue degrader platform with significant future therapeutic potential.
The $75 million payment to Evotec marks significant advancement in their protein degradation collaboration with Bristol Myers Squibb. Molecular glue degraders represent one of the most promising frontiers in drug discovery, targeting proteins previously considered "undruggable" by conventional approaches. This collaboration leverages Evotec's multi-omics screening and AI-supported analytics with BMS's industry-leading CELMoDs™ (cereblon E3 ligase modulators) library.
The achievement of these performance-based and program-based milestones indicates substantial technical progress in expanding their pipeline. Protein degradation technology works by harnessing the cell's own waste disposal system to selectively eliminate disease-causing proteins rather than just inhibiting their function, offering potentially more complete and durable therapeutic effects.
This collaboration, initiated in 2018 and expanded in 2022, demonstrates successful maturation of their joint research efforts, particularly significant in the challenging field of developing first-in-class molecular degraders. The focus on oncology and beyond suggests applications across multiple therapeutic areas, potentially addressing high-value targets with significant unmet medical needs.
While specific details on individual programs remain undisclosed, the milestone achievement validates Evotec's platform approach and industrialized drug discovery capabilities in this cutting-edge therapeutic space.
$75M milestone payment strengthens Evotec's finances, representing 6.3% of market cap and validating their collaborative business model.
The $75 million payment from Bristol Myers Squibb represents a significant financial development for Evotec, constituting approximately 6.3% of their current market capitalization of $1.2 billion. This non-dilutive capital injection strengthens Evotec's financial position without requiring equity issuance or additional debt.
This milestone achievement validates Evotec's collaborative business model where they leverage their technology platforms through partnerships with pharmaceutical companies. Such performance-based payments are crucial revenue drivers for drug discovery and development service companies like Evotec.
The continued success of this collaboration, which began in 2018 and expanded in 2022, demonstrates Evotec's ability to deliver value in high-complexity research areas. The molecular glue degrader field is highly competitive, with significant industry investment, making this achievement particularly noteworthy.
While the article doesn't specify which development stage triggered these payments, the achievement demonstrates technical progress in their joint pipeline development. For Evotec's business model, such milestone payments complement their service revenues and provide validation of their technology platforms.
This development represents successful execution of Evotec's partnership-driven strategy, where they share research and development costs while maintaining potential upside through milestone payments and possibly future royalties if candidates advance to commercialization.
Key scientific achievements expand the pipeline of high value molecular glue degraders for unmet medical needs
Performance-based and program-based payments of in total US
$ 75 m to Evotec
HAMBURG, DE / ACCESS Newswire / April 24, 2025 / Evotec SE (Frankfurt Stock Exchange:EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ:EVO) today announced further significant progress of the Company's strategic research collaboration with Bristol Myers Squibb relating to building a high value molecular glue-based pipeline for unmet medical needs. Performance-based and program-based achievements trigger payments of in total US
Initiated in 2018, the collaboration combines Evotec's high-performance multi-omics screening as well as AI-supported data analytics and drug design capabilities with Bristol Myers Squibb's industry-leading library of cereblon E3 ligase modulators ("CELMoDs™"). The collaboration, expanded in 2022, continues to deliver on its goal to identify novel molecular glue degraders for high-value targets in the field of oncology and beyond. The performance-based and program-based achievements further strengthen Evotec's joint program pipeline.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are proud to see this continued expansion of our molecular glue degrader pipeline together with Bristol Myers Squibb who is leading the industry in this field emphasizing the value of our systematic and industrialized PanOmics-based approach. Our growing pipeline of molecular degraders addressing a broad panel of high value targets harbors an enormous potential to deliver multiple first-in-class products into the market. We are well on track to deliver on our plans."
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 collaboration with Bristol Myers Squibb in molecular glues
In 2018, Evotec entered a long-term strategic drug discovery and development collaboration 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 AI/ML-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. 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 optimization.
Evotec announced in May of 2022 that the Company has further extended and expanded its collaboration 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 strategic partnershipsand 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 100 proprietary and co-owned R&D projects from early discovery to clinical development. Evotec operates globally with more than 4,800 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.com and follow us on X/Twitter @Evotec and 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
View the original press release on ACCESS Newswire
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