DGAP-News

Evotec expands neuroscience collaboration with Bristol Myers Squibb to include new targeted protein degradation approach

DGAP-News: Evotec SE / Key word(s): Miscellaneous Evotec expands neuroscience collaboration with Bristol Myers Squibb to include new targeted protein degradation approach 11.01.2022 / 07:30 The issuer is solely responsible for the content of this announcement.

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• EXPANSION LEVERAGES A PROPRIETARY EVOTEC PLATFORM IN THE FIELD OF TARGETED PROTEIN DEGRADATION TO TACKLE SELECTED TARGETS WITH RELEVANCE FOR A RANGE OF NEURODEGENERATIVE CONDITIONS
• EVOTEC RECEIVES PAYMENTS OF IN TOTAL US$ 15 M FROM BRISTOL MYERS SQUIBB
   

Hamburg, Germany, 11 January 2022:
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) announced today that the Company has expanded its neurodegeneration collaboration with Bristol Myers Squibb (NYSE:BMY) with the initiation of discovery and development efforts regarding a new strategy to tackle neurodegenerative diseases including Alzheimer's through a novel approach to targeted protein degradation. Evotec receives payments totalling US$ 15 m from Bristol Myers Squibb.

Under the expansion, Bristol Myers Squibb increases its access to a novel targeted protein degradation approach. The focus will be on selected targets that are relevant to a range of neurodegenerative conditions.

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "Our collaboration with Bristol Myers Squibb in the field of neurodegenerative disease continues to be highly productive. Many neurodegenerative diseases are driven by disease-causing proteins which have proven to be elusive to traditional drug discovery approaches. We are committed to continuously explore novel drug targeting mechanisms and modalities and are delighted to have a strong partner with BMS in this endeavour."

The neurodegeneration collaboration between Evotec and Bristol Myers Squibb was initiated in December 2016 with the goal of identifying disease-modifying treatments for a broad range of neurodegenerative diseases. Currently approved drugs only offer short-term management of the patients' symptoms despite a huge unmet medical need for drugs that have the potential to slow down or reverse disease progression. The collaboration leverages Evotec's industrialised iPSC platform using patient-derived disease models, which is one of the largest and most sophisticated platforms in the industry.