and Bristol Myers Squibb have partnership to develop a broadened neurodegenerative diseases programme pipeline.
The collaboration between the companies began in 2016, for the purpose of identifying modifying treatments for a wide range of neurodegenerative diseases. Its eight-year extension is aimed at further deepening the strategic alliance.
The partnership pursues an innovative approach to discovering and developing new medicines, using many of the modality-agnostic precision medicine platforms of Evotec.
In September 2021, Bristol Myers Squibb in-licensed the first programme, EVT8683, after the successful filing of an investigative new drug (IND) application with the Food and Drug Administration (FDA).
This programme has now proceeded into a Phase I clinical trial.
Evotec chief scientific officer Dr Cord Dohrmann said: 鈥淲e are excited to expand our strategic neurodegeneration partnership with Bristol Myers Squibb.
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By GlobalData鈥淭his next extension beyond 2030 is a testament to the success and trust of the partnership, as well as to the high degree of confidence placed in our platforms and the complementary approach to generating a leading pipeline of highly innovative drug candidates.
鈥淭ogether with our BMS colleagues, we are confident that we will deliver new medicines that matter to patients with neurodegenerative diseases.鈥�
Under the terms of the deal, the company will receive an upfront payment of $50m, along with undisclosed licence and performance milestone payments, and tiered royalties on product sales.
Evotec noted that the total transaction results in a $4bn deal, including the upfront and downstream performance milestone payments.
Last May, Evotec and Sernova signed an exclusive worldwide strategic collaboration to develop a cell therapy for treating individuals with insulin-dependent diabetes.
In a separate development, Bristol Myers Squibb received regulatory approval from the , which treats moderate-to-severe plaque psoriasis in adult patients who are candidates for systemic therapy.
The approval was based on the data obtained from the Phase II POETYK PSO-1 and POETYK PSO-2 clinical trials.
