Evotec and Bristol Myers Squibb Achieve Major Milestone in Molecular Glue Degrader Collaboration, Triggering $75M Payment
- Evotec SE announced significant progress in its strategic protein degradation collaboration with Bristol Myers Squibb, triggering performance-based payments totaling $75 million.
- The partnership combines Evotec's multi-omics screening and AI-supported analytics with Bristol Myers Squibb's industry-leading cereblon E3 ligase modulators (CELMoDs™) to develop molecular glue degraders.
- Molecular glue degraders represent a breakthrough approach that can target previously "undruggable" proteins, potentially expanding the druggable proteome beyond conventional small molecules.
- The collaboration, initiated in 2018 and expanded in 2022 for an additional eight years, continues to build a promising pipeline targeting high-value oncology and other therapeutic areas.