Evotec Announces Strong Progress in Strategic Protein Degradation Partnership with Bristol Myers Squibb
Evotec SE (Frankfurt Stock Exchange: EVT, NASDAQ: EVO) announced significant progress in its strategic partnership with Bristol Myers Squibb focused on developing molecular glue degraders. The collaboration, initiated in 2018 and expanded in 2022, has triggered performance-based and programme-based payments totaling US$ 75 million to Evotec. This partnership combines Evotec's multi-omics screening capabilities with Bristol Myers Squibb's library of cereblon E3 ligase modulators (CELMoDs™) to identify novel molecular glue degraders for oncology and other fields.
Dr. Cord Dohrmann, Evotec's Chief Scientific Officer, highlighted the growing pipeline of molecular degraders addressing high-value targets, emphasizing the potential to deliver multiple first-in-class products to the market. The collaboration's success underscores Evotec's progress in this emerging therapeutic modality.
Evotec SE (Borsa di Francoforte: EVT, NASDAQ: EVO) ha annunciato progressi significativi nella sua partnership strategica con Bristol Myers Squibb, focalizzata sullo sviluppo di degradatori a molecola di colla. La collaborazione, iniziata nel 2018 e ampliata nel 2022, ha generato pagamenti basati su performance e programmi per un totale di 75 milioni di dollari USA a favore di Evotec. Questa partnership unisce le capacità di screening multi-omiche di Evotec con la libreria di modulatori della ligasi E3 cereblon di Bristol Myers Squibb (CELMoDs™) per identificare nuovi degradatori a molecola di colla per l'oncologia e altri settori.
Il Dr. Cord Dohrmann, Chief Scientific Officer di Evotec, ha sottolineato l'aumento del pipeline di degradatori molecolari che affrontano obiettivi di alto valore, evidenziando il potenziale di portare sul mercato più prodotti di prima classe. Il successo della collaborazione sottolinea i progressi di Evotec in questa modalità terapeutica emergente.
Evotec SE (Bolsa de Frankfurt: EVT, NASDAQ: EVO) anunció avances significativos en su asociación estratégica con Bristol Myers Squibb centrada en el desarrollo de degradadores de pegamento molecular. La colaboración, iniciada en 2018 y ampliada en 2022, ha generado pagos basados en el rendimiento y en el programa que totalizan 75 millones de dólares estadounidenses para Evotec. Esta asociación combina las capacidades de cribado multi-ómicas de Evotec con la biblioteca de moduladores de la ligasa E3 cereblon de Bristol Myers Squibb (CELMoDs™) para identificar nuevos degradadores de pegamento molecular para oncología y otros campos.
El Dr. Cord Dohrmann, Director Científico de Evotec, destacó el creciente pipeline de degradadores moleculares que abordan objetivos de alto valor, enfatizando el potencial de entregar múltiples productos innovadores al mercado. El éxito de la colaboración subraya los avances de Evotec en esta modalidad terapéutica emergente.
Evotec SE(프랑크푸르트 증권 거래소: EVT, NASDAQ: EVO)는 브리스톨 마이어스 스큅(Bristol Myers Squibb)과의 전략적 파트너십에서 중요한 진전을 발표했습니다. 이 파트너십은 분자 접착제를 개발하는 데 중점을 두고 있으며, 2018년에 시작되어 2022년에 확대되었습니다. 이 협력으로 인해 Evotec는 성능 및 프로그램 기반 지급액 총 7천5백만 달러를 수령하였습니다. 이 파트너십은 Evotec의 다중 오믹스 스크리닝 능력과 브리스톨 마이어스 스큅의 cereblon E3 리가제 조절제(CELMoDs™) 라이브러리를 결합하여 종양학 및 기타 분야를 위한 새로운 분자 접착제를 식별합니다.
Evotec의 최고 과학 책임자인 Cord Dohrmann 박사는 고부가가치 표적을 다루는 분자 분해제의 증가하는 파이프라인을 강조하며, 여러 최초의 클래스 제품을 시장에 출시할 수 있는 잠재력을 강조했습니다. 협력의 성공은 이 새로운 치료 방식에서 Evotec의 진전을 강조합니다.
Evotec SE (Bourse de Francfort : EVT, NASDAQ : EVO) a annoncé des progrès significatifs dans son partenariat stratégique avec Bristol Myers Squibb, axé sur le développement de dégradateurs moléculaires. La collaboration, initiée en 2018 et élargie en 2022, a déclenché des paiements basés sur la performance et le programme totalisant 75 millions de dollars US pour Evotec. Ce partenariat combine les capacités de criblage multi-omiques d'Evotec avec la bibliothèque de modulateurs de ligase E3 cereblon de Bristol Myers Squibb (CELMoDs™) pour identifier de nouveaux dégradateurs moléculaires dans le domaine de l'oncologie et d'autres secteurs.
Le Dr Cord Dohrmann, Directeur Scientifique d'Evotec, a souligné l'augmentation du pipeline de dégradateurs moléculaires ciblant des objectifs de grande valeur, mettant en avant le potentiel de livrer plusieurs produits de première classe sur le marché. Le succès de la collaboration souligne les progrès d'Evotec dans cette modalité thérapeutique émergente.
Evotec SE (Frankfurter Wertpapierbörse: EVT, NASDAQ: EVO) hat bedeutende Fortschritte in seiner strategischen Partnerschaft mit Bristol Myers Squibb angekündigt, die sich auf die Entwicklung molekularer Kleberabbauer konzentriert. Die Zusammenarbeit, die 2018 begonnen und 2022 ausgeweitet wurde, hat leistungs- und programmabhängige Zahlungen in Höhe von insgesamt 75 Millionen US-Dollar an Evotec ausgelöst. Diese Partnerschaft kombiniert die Multi-Omics-Screeningfähigkeiten von Evotec mit der Bibliothek der cereblon E3-Ligase-Modulatoren (CELMoDs™) von Bristol Myers Squibb, um neuartige molekulare Kleberabbauer für die Onkologie und andere Bereiche zu identifizieren.
Dr. Cord Dohrmann, Chief Scientific Officer von Evotec, hob die wachsende Pipeline molekularer Abbaustoffe hervor, die sich mit wertvollen Zielstrukturen auseinandersetzen, und betonte das Potenzial, mehrere Produkte der ersten Klasse auf den Markt zu bringen. Der Erfolg der Zusammenarbeit unterstreicht den Fortschritt von Evotec in dieser aufstrebenden therapeutischen Modalität.
- Performance-based and programme-based payments of US$ 75 million to Evotec
- Expansion of the pipeline of molecular glue degraders
- Progress in identifying novel molecular glue degraders for oncology and other fields
- Potential to deliver multiple first-in-class products to the market
- None.
The announcement of
The performance-based nature of these payments suggests that Evotec is meeting or exceeding the partnership's goals, which could enhance investor confidence in the company's R&D capabilities. This cash injection will likely bolster Evotec's research efforts and potentially accelerate the development of their pipeline, possibly leading to increased valuation in the medium to long term.
Investors should note that while this news is positive, the full revenue impact may be spread over time, depending on how Evotec recognizes these payments in their financial statements. The ongoing nature of the partnership also suggests potential for future milestone payments, providing a possible catalyst for stock price movements.
The progress in Evotec's molecular glue degrader pipeline is a significant scientific advancement. Molecular glue degraders represent a cutting-edge approach in drug discovery, offering the potential to target previously "undruggable" proteins. This could open up new therapeutic avenues, particularly in oncology and other hard-to-treat diseases.
The partnership's success in expanding their pipeline suggests that Evotec's PanOmics-based approach is proving effective in identifying novel degraders. This validates their technology platform and could position Evotec as a leader in this emerging field. The mention of "multiple first-in-class products" indicates potential for high-value drug candidates that could significantly impact Evotec's future revenue streams.
However, investors should be aware that drug development is a long and risky process. While the pipeline expansion is promising, it will likely be years before any resulting products reach the market, if they succeed in clinical trials.
This partnership progress positions Evotec favorably in the rapidly growing targeted protein degradation market, estimated to reach
The expansion of their pipeline beyond oncology into other therapeutic areas suggests a broadening market potential. This diversification could reduce risk and open up additional revenue streams. The emphasis on "high-value targets" indicates a strategic focus on areas with significant market demand.
Investors should consider the long-term potential of this partnership. While current payments are substantial, the real value lies in the future commercialization of successful drug candidates. The market's reaction to this news may be tempered by the early-stage nature of the research, but it should positively influence long-term growth projections for Evotec.
Key scientific achievements drive the expansion of the pipeline of molecular glue degraders
Performance-based and programme-based payments of in total US
$ 75 m to Evotec
HAMBURG, GERMANY / ACCESSWIRE / August 13, 2024 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) today announced further strong progress of the Company's strategic partnership with Bristol Myers Squibb relating to building a molecular glue-based pipeline. Performance-based and programme-based achievements trigger payments of in total US
Initiated in 2018, the partnership combines Evotec's high-performance multi-omics screening and analytics capabilities with Bristol Myers Squibb's industry-leading library of cereblon E3 ligase modulators ("CELMoDs™"). Expanded in 2022, the partnership continues to deliver on its goal to identify novel molecular glue degraders, targeting high-value targets in the field of oncology and beyond. The performance-based and programme-based achievements further bolster Evotec's joint pipeline of programmes.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "Bristol Myers Squibb is leading the industry in the field of molecular glue degraders, which is clearly one of the most exciting emerging therapeutic modalities. Through our highly systematic and industrialised PanOmics-based approach the pipeline of molecular degraders addressing high value targets keeps growing and maturing. The breadth and the depth of the pipeline is designed 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 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.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:
Media
Gabriele Hansen
SVP Head of Global Corporate Communications
Gabriele.Hansen@evotec.com
Hinnerk Rohwedder
Director of Global Corporate Communications
Hinnerk.Rohwedder@evotec.com
Investor Relations
Volker Braun
EVP Head of Global Investor Relations & ESG
Volker.Braun@evotec.com
SOURCE: Evotec SE
View the original press release on accesswire.com
FAQ
What is the value of the payments Evotec received from Bristol Myers Squibb?
When was the partnership between Evotec (EVO) and Bristol Myers Squibb initiated?
What is the focus of Evotec's (EVO) partnership with Bristol Myers Squibb?
What technologies does Evotec (EVO) contribute to the partnership?
