Evotec Secures $75 Mln In Milestone Payments From Bristol Myers Amid Pipeline Advancements

(RTTNews) - Evotec SE (EVTCY.PK, EVOTF.PK), a German drug maker, announced significant advancements in its strategic partnership with Bristol Myers Squibb, focusing on developing a pipeline based on molecular glue. As a result of performance and program-based milestones, Evotec will receive a total of $75 million in payments.

Launched in 2018, the partnership integrates Evotec's advanced multi-omics screening and analytics with Bristol Myers Squibb's premier library of cereblon E3 ligase modulators.

Expanded in 2022, the collaboration remains focused on discovering innovative molecular glue degraders to target high-value areas in oncology and other fields. Recent performance and program-based milestones further strengthen Evotec's shared pipeline of programs.