Bristol Myers Squibb, Evotec enter licence agreement within neuroscience partnership
Evotec receives a $ 40 m payment and is eligible to earn performance milestone payments, as well as tiered royalties up to low double-digit percentages on product sales.;
Hamburg: Evotec SE has announced that Bristol Myers Squibb Company has exercised its option to enter into an exclusive global licence agreement. The licence covers selected late-stage discovery programmes that were developed and progressed within the collaboration.
Evotec and Bristol Myers Squibb originally entered their neurodegeneration partnership in 2016. The initial partnership proved highly productive in generating a promising pipeline of discovery to clinical-stage programmes. Based on this success, Bristol Myers Squibb and Evotec have extended and expanded the partnership for an additional 8 years in March to further broaden and deepen the strategic alliance.
Under the licence agreement, Bristol Myers Squibb has selected an undisclosed number of programmes that were rapidly developed and progressed using Evotec’s precision medicine platforms for further development within the expanded collaboration. Evotec receives a $ 40 m payment and is eligible to earn performance milestone payments, as well as tiered royalties up to low double-digit percentages on product sales.
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