Evotec and Bristol Myers Squibb extend and expand strategic partnership in protein degradation
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- Published on Thursday, 12 May 2022 09:05
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- 8-year extension and expansion of collaboration to develop pipeline of molecular glue degraders
- Collaboration leverages Evotec’s proprietary EVOPANOMICS and EVOPANHUNTER platforms covering high-performance multi-omics and integrated AI/ML-supported data analytics
- $ 200 m upfront as well as near-term performance-based payments
- Deal potential of $ 5 bn
HAMBURG, Germany I May 10, 2022 I Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) announced today that the Company has extended and expanded its partnership with Bristol Myers Squibb (NYSE:BMY) in targeted protein degradation, originally signed in 2018. The initial collaboration has proven to be highly productive in generating a promising pipeline of molecular glue degraders. Based on this success, Bristol Myers Squibb and Evotec extend and expand this partnership for an additional 8 years with the goal to further broaden and deepen the strategic alliance.
Molecular glue degraders are small, drug-like compounds that induce interactions between an E3 ubiquitin ligase and a molecular target. This induced interaction results in ubiquitination and subsequent degradation of the recruited protein leading to long-lasting therapeutic effects. Bristol Myers Squibb is a leader in this field based in particular on its unique library of cereblon E3 ligase modulators (CELMoD®). Under the terms of the agreement, both parties will leverage all of Evotec’s proprietary EVOpanOmics and EVOpanHunter platforms as well as AI/ML-based drug discovery and development platforms.
Evotec receives an upfront payment of $ 200 m and expects to obtain further performance-based, near-term and programme-based milestone payments, resulting in a deal potential of $ 5 bn with additional tiered royalties on product sales.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, said: “Bristol Myers Squibb is the pioneer and industry-leader in the field of molecular glue degraders. Molecular glues are one of the most exciting new modalities as they can be developed into highly selective and potent degraders of high-value therapeutic targets, even reaching molecular targets which have been deemed undruggable by conventional means. We are extremely excited about the opportunity to significantly extend and expand our strategic partnership with Bristol Myers Squibb into 2030 and possibly beyond.”
About targeted protein degradation
Targeted protein degradation harnesses the body’s natural machinery to break down proteins into smaller molecules (“proteolysis”). This process can be induced by a special type of small molecules known as “molecular glues”. Bristol Myers Squibb has a comprehensive library of such molecular glues based on the cereblon E3 ligase modulator (“CELMoD®”). By specifically altering the protein-binding properties of cereblon, CELMoD® agents can promote the targeted degradation of disease-causing proteins.
About EVOpanOmics and EVOpanHunter
EVOpanOmics and EVOpanHunter are two of the building blocks of Evotec’s strategic framework, Action Plan 2025: “the data-driven R&D Autobahn to Cures”. EVOpanOmics involves the innovative use of genomics, transcriptomics, proteomics, and phenotypic data in an integrated fashion. Evotec has established high-throughput transcriptomics and proteomics technologies, which can be used as unbiased read-outs in drug discovery and development. EVOpanHunter is Evotec’s proprietary, integrated, user-centred bioinformatics platform which facilitates the analysis of PanOmics data integrated with other metadata sets. The combination of EVOpanOmics and EVOpanHunter on an integrated drug discovery and development platform is a game changer for data-driven approaches to highly effective personalised medicine.