Evotec SE has announced substantial progress in its strategic research collaboration with Bristol Myers Squibb, which aims to develop a high-value molecular glue-based pipeline for addressing unmet medical needs. Evotec will receive payments totaling $75 million based on performance-based and program-based achievements.

The collaboration, initiated in 2018, integrates Evotec’s advanced multi-omics screening capabilities, AI-supported data analytics, and drug design expertise with Bristol Myers Squibb’s extensive library of cereblon E3 ligase modulators (CELMoDs). Expanded in 2022, the collaboration continues to progress towards its objective of identifying novel molecular glue degraders for high-value targets in oncology and beyond. These achievements further strengthen Evotec’s joint program pipeline.

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: “We are proud to see this continued expansion of our molecular glue degrader pipeline together with Bristol Myers Squibb who is leading the industry in this field emphasizing the value of our systematic and industrialized PanOmics-based approach. Our growing pipeline of molecular degraders addressing a broad panel of high value targets harbors an enormous potential to deliver multiple first-in-class products into the market. We are well on track to deliver on our plans.”