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Evotec SE has announced a strategic drug discovery collaboration with Janssen Pharmaceutica NV to explore novel therapeutic candidates via its TargetAlloMod platform. This partnership aims for high-potential cell surface drug targets within various therapeutic areas. Besides research funding, Evotec stands to gain approximately €210 million per project in success-based milestones and tiered royalties on resultant products. The collaboration highlights Evotec's innovative strengths and commitment to delivering effective therapeutics.
Evotec and Almirall have formed a strategic multi-target alliance focusing on severe skin diseases including atopic dermatitis and basal cell carcinoma. This collaboration combines Evotec's advanced AI/ML-driven iR&D platform with Almirall's expertise in medical dermatology. Evotec will handle drug discovery and pre-clinical development, while Almirall will oversee clinical development and marketing. The deal includes an undisclosed upfront payment, potential milestone payments of up to €230 million per program, and royalties on net sales.
Evotec SE reported a 23% increase in group revenues for the fiscal year ended December 31, 2021, reaching €618.0 million. Adjusted EBITDA rose to €107.3 million, up 1% from the previous year. The company achieved significant operational milestones, including expanded partnerships and clinical progress. It holds a robust liquidity position with €858.2 million in cash. For 2022, Evotec expects revenues between €700 - 720 million and plans to invest €70 - 80 million in unpartnered R&D to support ongoing growth initiatives.
Evotec has reached a new programme designation within its collaboration with Bristol Myers Squibb (BMY), triggering a US$ 16 million payment. This programme focuses on an antisense-based approach, distinct from previous small molecule projects, and aims to address neurodegenerative diseases. Evotec could also earn royalties and up to US$ 250 million in milestones. The collaboration enhances Evotec's pipeline, which includes the clinical-stage programme EVT8683, ultimately targeting unmet medical needs in treating neurodegeneration.
Evotec has expanded its collaboration with Bristol Myers Squibb to target neurodegenerative diseases like Alzheimer's through a novel protein degradation strategy. This expansion includes a payment of US$ 15 million from Bristol Myers Squibb. The partnership, initiated in December 2016, aims to discover disease-modifying treatments using Evotec's advanced patient-derived disease models. Dr. Cord Dohrmann highlighted the collaboration's productivity and commitment to innovative drug targeting mechanisms, addressing the significant unmet medical need in treating neurodegenerative conditions.
Evotec announced it has received a €7.5 million grant from the German Federal Ministry of Education and Research to develop EVT075, a potential first-in-class immunomodulatory therapy targeting COVID-19. This funding aims to facilitate clinical studies assessing the safety and efficacy of the compound, which has shown promising results against SARS-CoV-2 in pre-clinical studies. The therapy aims to amplify the immune response and reduce hospitalizations related to COVID-19.