Evotec Expands 2018 Agreement with BMS for Targeted Protein Degradation Therapies
Shots:
- Evotec receives $200M upfront & an additional fee in performance-based, near-term & program-based milestones with a total deal value of $5B along with royalties on product sales. The companies will expand the collaboration for an additional 8yrs.
- The collaboration will utilize Evotec's EVO panOmics & EVO panHunter platforms along with AI/ML-based drug discovery & development platforms to develop a pipeline of molecular glue degraders
- Under the 2018 agreement with Celgene (now BMS), Evotec receives $65M up front & eligible to receive milestones along with royalties on each licensed program. Celgene got exclusive opt-in license rights globally to all programs, developed from the collaboration
Ref: Accesswire | Image: Evotec
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