Evotec Achieves Programme Designation in Neuroscience Collaboration with Bristol Myers Squibb
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.
- US$ 16 million payment from Bristol Myers Squibb enhances liquidity.
- Potential to earn up to US$ 250 million in development and sales milestones.
- Expansion of the pipeline with antisense-based approach targeting neurodegenerative diseases.
- None.
- THE PROGRAMME DESIGNATION IS BASED ON AN ANTISENSE-BASED APPROACH WHICH TRIGGERS A US
$ 16 M PAYMENT TO EVOTEC BY BRISTOL MYERS SQUIBB - EVOTEC SOURCES LNAPLUS(TM) ANTISENSE TECHNOLOGY THROUGH A STRATEGIC PARTNERSHIP WITH SECARNA PHARMACEUTICALS
HAMBURG, GERMANY / ACCESSWIRE / April 8, 2022 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809, NASDAQ: EVO) announced today that the Company has reached another programme designation within its neuroscience collaboration with Bristol Myers Squibb (BMY) triggering a payment of US
The programme further adds to a fast-growing pipeline in neurodegeneration that also includes EVT8683, which entered clinical development end of 2021. In contrast to previously nominated programmes, which are small molecule based, the newly designated project utilises an antisense-based approach. Evotec is eligible to receive tiered royalties of up to low double-digit percentages of sales of any commercial products resulting from the collaboration with Bristol Myers Squibb. Additionally, Evotec can earn up to US
Antisense oligonucleotides ("ASOs") are precisely engineered chemical structures that specifically bind to a targeted RNA to interfere with gene expression. By specifically inhibiting the production of disease-driving proteins in the cells of interest, ASOs can provide new pathways to tackle targets that are difficult to regulate or were previously deemed "undruggable". The programme leverages ASOs originating from the LNAplus(TM) ASO discovery and development platform established and validated by Secarna Pharmaceuticals with whom Evotec entered a strategic partnership in August 2020.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, said: "Our neuroscience collaboration with Bristol Myers Squibb was initiated in December 2016. It has also generated a first clinical stage programme with EVT8683 as well as an exciting pre-clinical stage pipeline. We are delighted to further expand this pipeline with yet another high-potential programme."
The neuroscience collaboration between Evotec and Bristol Myers Squibb aims to identify disease-modifying treatments for a broad range of neurodegenerative diseases. Currently approved drugs only offer short-term management of the patients' symptoms and there is a huge unmet medical need for therapeutic modalities that slow down or reverse disease progression. The programme leverages Secarna's LNAplus(TM) platform in combination with Evotec's industrialised iPSC platform using patient-derived disease models, which is one of the largest and most sophisticated platforms in the industry.
About Evotec and iPSC
Induced pluripotent stem cells (also known as iPS cells or iPSCs) are a type of pluripotent stem cell that can be generated directly from adult cells. The iPSC technology was pioneered by Shinya Yamanaka's lab in Kyoto, Japan, who showed in 2006 that the introduction of four specific genes encoding transcription factors could convert adult cells into pluripotent stem cells. He was awarded the 2012 Nobel Prize along with Sir John Gurdon "for the discovery that mature cells can be reprogrammed to become pluripotent". Pluripotent stem cells hold great promise in the field of regenerative medicine. Because they can propagate indefinitely, as well as give rise to every other cell type in the body (such as neurons, heart, pancreatic and liver cells), they represent a single source of cells that could be used to replace those lost to damage or disease.
Evotec has built an industrialised iPSC infrastructure that represents one of the largest and most sophisticated iPSC platforms in the industry. Evotec's iPSC platform has been developed over the last years with the goal to industrialise iPSC-based drug screening in terms of throughput, reproducibility and robustness to reach the highest industrial standards, and to use iPSC-based cells in cell therapy approaches via the Company's proprietary EVO cells platform.
ABOUT SECARNA AND LNAPLUS(TM)
Secarna Pharmaceuticals is the leading independent European next-generation antisense drug discovery and development company. Secarna's proprietary, customized LNAplus(TM) platform is being applied to the discovery, testing and selection of antisense oligonucleotides (ASOs) for pre-clinical and clinical development. LNAplus(TM) encompasses all aspects of drug discovery and pre-clinical development and has proven to be fast, reliable, scalable and efficient, enabling the discovery of novel antisense-based therapies for challenging or currently undruggable targets. The platform includes the powerful proprietary Oligofyer(TM) bioinformatics pipeline, a streamlined, high efficiency screening process, including Secarna's proprietary LNA-Vit(r)ox(TM) safety test system, as well as target-specific functional assays. Secarna's platform and ASOs have been validated by numerous in-house projects as well as in several academic and industry collaborations.
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 4,000 highly qualified people. The Company's 14 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.
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 completion of the offering. 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.
Media Contact Evotec SE:
Gabriele Hansen, SVP Head of Global Corporate Communications & Marketing, Phone: +49.(0)40.56081-255, gabriele.hansen@evotec.com
IR Contact Evotec SE:
Volker Braun, SVP Head of Global Investor Relations & ESG, Phone: +49.(0)40.56081-775, volker.braun@evotec.com
SOURCE: Evotec AG
View source version on accesswire.com:
https://www.accesswire.com/696669/Evotec-Achieves-Programme-Designation-in-Neuroscience-Collaboration-with-Bristol-Myers-Squibb
FAQ
What recent payment did Evotec receive from Bristol Myers Squibb?
How much can Evotec earn in potential milestones from Bristol Myers Squibb?
What is the focus of Evotec's new programme with Bristol Myers Squibb?
What is the significance of the EVT8683 programme for Evotec?
What technology does Evotec leverage in its partnership with Secarna Pharmaceuticals?
