Evotec Announces Progress in Strategic Neuroscience Partnership with Bristol Myers Squibb

Rhea-AI Summary

Evotec SE announced significant progress in its strategic neuroscience partnership with Bristol Myers Squibb, resulting in a US$ 25 million payment to Evotec for further research advancement. The collaboration, initiated in December 2016, aims to develop disease-modifying treatments for neurodegenerative diseases. Evotec's PanOmics platform, combined with patient-derived disease models, has been instrumental in generating a promising pipeline of discovery to clinical-stage programmes.

A key milestone was reached with the in-licensing of EVT8683 (now BMS-986419) by Bristol Myers Squibb in September 2021. The partnership was extended for an additional 8 years in March 2023. Dr. Cord Dohrmann, Evotec's CSO, highlighted the productive nature of the collaboration and expressed excitement about advancing another programme towards clinical development in 2026.

Positive

• Received US$ 25 million payment from Bristol Myers Squibb for research advancement
• Successful progress in strategic neuroscience partnership
• Generated promising pipeline of discovery to clinical-stage programmes
• Partnership extended for additional 8 years in March 2023
• Advancing another programme towards clinical development in 2026

Negative

• None.

News Market Reaction – EVO

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On the day this news was published, EVO declined 3.27%, reflecting a moderate negative market reaction.

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• Key scientific achievement advances the joint neuroscience pipeline and earns a payment of US$ 25 m to Evotec to progress further research

HAMBURG, GERMANY / ACCESSWIRE / August 8, 2024 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ:EVO) today announced progress within the Company's strategic partnership with Bristol Myers Squibb, further bolstering the joint pipeline of advanced neuroscience programmes. Evotec receives a US$ 25 m payment to progress further research.

Evotec and Bristol Myers Squibb entered their strategic neuroscience collaboration in December 2016 to identify disease-modifying treatments for a broad range of neurodegenerative diseases where there remains a significant unmet medical need for therapies that slow down or reverse disease progression. The progress announced here leverages Evotec's PanOmics platform in conjunction with patient-derived disease models, which is one of the largest and most sophisticated platforms in the industry.

The partnership has generated a promising pipeline of discovery to clinical-stage programmes. A first programme, EVT8683, was in-licensed by Bristol Myers Squibb in September 2021 as BMS-986419. In March 2023, Bristol Myers Squibb and Evotec extended and expanded their partnership for an additional 8 years.

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, said: "The achieved milestone underlines the productive nature of our neuroscience partnership with Bristol Myers Squibb. Using our PanOmics-driven drug discovery platform we are targeting neurodegenerative diseases with tremendous unmet medical need. Beyond BMS-986419, we are very excited to advance yet another programme towards the clinic development in 2026."

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 provides high value pipeline co-creating partnerships and solutions to 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 5,000 highly qualified people. The Company's sites in Europe and the USA 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 X/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.

For further information, please contact:

Media

Gabriele Hansen
SVP Head of Global Corporate Communications
Gabriele.Hansen@evotec.com

Hinnerk Rohwedder
Director of Global Corporate Communications
Hinnerk.Rohwedder@evotec.com

Investor Relations

Volker Braun
EVP Head of Global Investor Relations & ESG
Volker.Braun@evotec.com

SOURCE: Evotec SE

View the original press release on accesswire.com

FAQ

What is the value of the payment Evotec received from Bristol Myers Squibb?

Evotec received a payment of US$ 25 million from Bristol Myers Squibb to progress further research in their neuroscience partnership.

When did Evotec and Bristol Myers Squibb start their neuroscience collaboration?

Evotec and Bristol Myers Squibb entered their strategic neuroscience collaboration in December 2016.

What is the focus of Evotec's partnership with Bristol Myers Squibb?

The partnership focuses on identifying disease-modifying treatments for a broad range of neurodegenerative diseases where there is a significant unmet medical need.

Which Evotec programme was in-licensed by Bristol Myers Squibb in September 2021?

EVT8683, now known as BMS-986419, was in-licensed by Bristol Myers Squibb in September 2021.

When is Evotec (EVO) expecting to advance another programme to clinical development?

Evotec (EVO) is expecting to advance another programme towards clinical development in 2026.