BMS Exercised Its Option to License Evotec's EVT8683 for the Treatment of Neurodegenerative Disease
Shots:
- Evotec receives $20M as an option fee & is eligible to receive ~$250M as milestones along with royalties. BMS will be responsible for further development & commercialization of a product
- BMS has exercised its option to license Evotec’s EVT8683 after 4.5yrs. of collaboration. Evotec’s iPSC platform allows screening of human iPSC-based disease models at high throughput in combination with unbiased transcriptome analysis
- EVT8683 is a small molecule targeting a key cellular stress response for multiple neurodegenerative indications and is ready to enter clinical development. The candidate was originated from Evotec’s iPSC discovery platform
Ref: Evotec | Image: BMS
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