Evotec Receives $6 Mln Payment From Bristol Myers On IPSC-based Neuroscience Partnership

(RTTNews) - Evotec SE (EVTCY.PK, EVOTF.PK) said Tuesday that it has received a US$6 million payment from Bristol Myers Squibb Co. (BMY) regarding their iPSC-based neuroscience partnership.

The payment follows Bristol Myers Squibb's decision to add another drug discovery project to the partnership's portfolio.

The milestone was achieved before the end of 2020, Evotec said in a statement.

Evotec and Bristol Myers Squibb initiated the collaboration in 2016 to identify disease-modifying treatments for a broad range of neurodegenerative diseases.

Evotec noted that the partnership has already found several access points into neurodegenerative diseases and has to-date delivered a broad portfolio targeting key disease mechanisms in neurodegeneration.