Evotec SE received a $5 million milestone payment from Bristol Myers Squibb following FDA acceptance of their IND application for a new protein degradation therapy, marking significant progress in their strategic collaboration.

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Evotec SE, listed on the Frankfurt Stock Exchange and NASDAQ, is a pioneering life science company that specializes in drug discovery and development solutions. Recently, Evotec announced a US$ 5 million milestone payment received from Bristol Myers Squibb following the acceptance of its Investigational New Drug (IND) application by the U.S. Food and Drug Administration (FDA). This payment signifies the advancement of their strategic collaboration focusing on protein degradation therapies for patients in urgent need.

The collaboration kicked off in 2018 and brings together Evotec’s expertise in multi-omics screening and artificial intelligence-supported analytics with Bristol Myers Squibb’s unique library of cereblon E3 ligase modulators (CELMoD™). The partnership aims to identify novel molecular glue degraders targeting significant oncology areas, with a Phase 1 clinical trial anticipated to commence in 2026.

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