Evotec Secures Milestone Payment from Bristol Myers Squibb

Evotec SE announced receiving a $5 million milestone payment from Bristol Myers Squibb. This follows the FDA's acceptance of their Investigational New Drug (IND) application. The partnership focuses on developing protein degradation therapies for critical patient needs. This payment marks a key achievement in their collaboration, initiated in 2018, combining Evotec's AI-driven drug discovery with Bristol Myers Squibb's CELMoD™ library.

The accepted drug candidate is a cereblon E3 ligase modulator (CELMoD™), anticipated to enter Phase 1 clinical trials in 2026. The collaboration aims to discover novel molecular glue degraders, expanding druggable targets in oncology.

Dr. Cord Dohrmann of Evotec highlighted this milestone as a significant step towards advancing their molecular glue degrader pipeline, emphasizing the collaboration's potential to deliver first-in-class products.