Evotec Achieves Further Progress in Neuroscience Collaboration with Bristol Myers Squibb

Rhea-AI Summary

Evotec SE has expanded its collaboration with Bristol Myers Squibb, adding two new drug discovery projects and designating a target-based program for development. This progress triggers total payments of US$ 26 million to Evotec. The collaboration, initiated in December 2016, aims to find disease-modifying treatments for neurodegenerative diseases, addressing a significant unmet medical need. Dr. Cord Dohrmann emphasized the ongoing success and productivity of this six-year partnership.

Positive

• Received a total of US$ 26 million in payments from Bristol Myers Squibb.
• Expanded collaboration with two additional drug discovery projects.
• Focus on developing treatments for neurodegenerative diseases, addressing significant medical needs.

Negative

• None.

• THE COLLABORATION ADDS TWO DRUG DISCOVERY PROJECTS TO THE PORTFOLIO AND DESIGNATES A TARGET-BASED PROGRAMME FOR DEVELOPMENT
• EVOTEC RECEIVES PAYMENTS IN TOTAL OF US$ 26 M FROM BRISTOL MYERS SQUIBB

HAMBURG, GERMANY / ACCESSWIRE / December 16, 2022 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) announced today that the Company has achieved further significant progress within its neuroscience collaboration with Bristol Myers Squibb (NYSE:BMY). The collaboration expands the portfolio by two additional drug discovery projects and has designated a target-based programme for further development, triggering payments in total of US$ 26 m to Evotec.

The collaboration was initiated in December 2016 with the goal of identifying 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 treatments that slow down or reverse disease progression. The collaboration leverages Evotec's precision medicine technologies for modality-agnostic drug discovery and development. A first programme originating from the collaboration, EVT8683, was in-licensed by Bristol Myers Squibb in September 2021, following the successful filing of an IND application with the FDA.

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, said: "We are delighted to see that after six years our neuroscience collaboration with Bristol Myers Squibb continues to be highly productive across its entire value chain. This is a testament to the scientific excellence and dedication of the teams at Evotec and Bristol Myers Squibb. We are confident that the growing pipeline of promising development candidates will yield transformative therapeutic options for patients living with neurodegenerative conditions."

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 4,500 highly qualified people. The Company's 17 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 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.

Media Contact Evotec SE:
Gabriele Hansen, SVP Head of Global Corporate Communications, Phone: +49.(0)40.56081-255, gabriele.hansen@evotec.com

Hinnerk Rohwedder, Director of Global Corporate Communications, Tel.: +49.(0)151 4070-4843, hinnerk.rohwedder@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 SE

View source version on accesswire.com:
https://www.accesswire.com/732155/Evotec-Achieves-Further-Progress-in-Neuroscience-Collaboration-with-Bristol-Myers-Squibb

FAQ

What recent development has Evotec achieved with Bristol Myers Squibb?

Evotec has expanded its collaboration with Bristol Myers Squibb, adding two drug discovery projects and designating a target-based program, resulting in US$ 26 million payments.

What is the total payment Evotec received from Bristol Myers Squibb?

Evotec received a total of US$ 26 million from Bristol Myers Squibb as part of their expanded collaboration.

When did Evotec's collaboration with Bristol Myers Squibb begin?

The collaboration between Evotec and Bristol Myers Squibb began in December 2016.

What is the focus of the collaboration between Evotec and Bristol Myers Squibb?

The collaboration focuses on discovering disease-modifying treatments for neurodegenerative diseases.

What is the significance of the US$ 26 million payment to Evotec's stock?

The US$ 26 million payment signifies a successful expansion of Evotec's collaboration, potentially boosting investor confidence and impacting the stock positively.