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Evotec Expands 2018 Agreement with BMS for Targeted Protein Degradation Therapies

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Evotec Expands 2018 Agreement with BMS for Targeted Protein Degradation Therapies

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

Click here to­ read the full press release 

Neha

Neha Madan is a content writer at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots.

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