Evotec Achieves Milestone in Its Neurodegeneration Collaboration with Bristol Myers Squibb

FacebookFacebookTwitterTwitterEmailEmailLinkedInLinkedInWhatsAppWhatsAppMessengerMessengerFlipboardFlipboardGmailGmailTelegramTelegramShareShare
  • ADDING ANOTHER DRUG DISCOVERY PROJECT TO THE PORTFOLIO TRIGGERS US$ 6 M PAYMENT TO EVOTEC

HAMBURG, GERMANY / ACCESSWIRE /  October 8, 2020 / Evotec SE (Frankfurt Stock Exchange:EVT)(MDAX/TecDAX, ISIN: DE0005664809) announced today that the Company has received a US$ 6 m payment from Bristol Myers Squibb Company (NYSE:BMY) following the decision to expand the portfolio by another drug discovery project.

Evotec and Bristol Myers Squibb (formerly “Celgene”) initiated the collaboration in 2016 to identify disease-modifying treatments for a broad range of neurodegenerative diseases. Currently approved drugs only offer short-term management of patients’ symptoms and there is a huge unmet medical need for therapies that slow down or reverse disease progression in the field of neurodegenerative diseases.

This collaboration pursues an innovative approach to the discovery and development of novel medicines by leveraging several of Evotec’s unique technology platforms in conjunction with the human iPSC-based platform, which is one of the largest and most sophisticated platforms in the industry. The partnership between Bristol Myers Squibb and Evotec has already found several access points into neurodegenerative diseases. Adding yet another approach with direct relevance to Alzheimer’s disease further complements the portfolio, which currently covers a range of incurable neurodegenerative conditions.

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: “We are thrilled to once again expand our strategic neuroscience partnership with Bristol Myers Squibb. Our joint portfolio continues to grow in breadth but more importantly also in depth with the majority of projects making significant progress. As target-based approaches continue to fail during clinical development we believe that the iPSC-based approaches will increasingly gain acceptance regarding their potential to deliver a new generation of more disease-relevant drug candidates in better defined patient populations.”

About Evotec and iPSC
Induced pluripotent stem cells (also known as iPS cells or iPSCs) are a type of pluripotent stem cell that can be generated directly from adult cells. The iPSC technology was pioneered by Shinya Yamanaka’s lab in Kyoto, Japan, who showed in 2006 that the introduction of four specific genes encoding transcription factors could convert adult cells into pluripotent stem cells. He was awarded the 2012 Nobel Prize along with Sir John Gurdon “for the discovery that mature cells can be reprogrammed to become pluripotent”. Pluripotent stem cells hold great promise in the field of regenerative medicine. Because they can propagate indefinitely, as well as give rise to every other cell type in the body (such as neurons, heart, pancreatic and liver cells), they represent a single source of cells that could be used to replace those lost to damage or disease.

Evotec has built an industrialised iPSC infrastructure that represents one of the largest and most sophisticated iPSC platforms in the industry. Evotec’s iPSC platform has been developed over the last years with the goal to industrialise iPSC-based drug screening in terms of throughput, reproducibility and robustness to reach the highest industrial standards, and to use iPSC-based cells in cell therapy approaches via the Company’s proprietary EVOcells platform.

ABOUT EVOTEC SE
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide and our more than 3,300 employees provide the highest quality stand-alone and integrated drug discovery and development solutions. We cover all activities from target-to-clinic to meet the industry’s need for innovation and efficiency in drug discovery and development (EVT Execute). The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuronal diseases, diabetes and complications of diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases, fibrosis, rare diseases and women’s health. On this basis, Evotec has built a broad and deep pipeline of approx. 100 co-owned product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term alliances with partners including Bayer, Boehringer Ingelheim, Bristol Myers Squibb, CHDI, Novartis, Novo Nordisk, Pfizer, Sanofi, Takeda, UCB and others. For additional information please go to
www.evotec.com and follow us on Twitter @Evotec.

FORWARD-LOOKING STATEMENTS
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.

Media Contact Evotec SE:
Gabriele Hansen, SVP Head of Global Corporate Communications & Marketing, Phone: +49.(0)40.56081-255, gabriele.hansen@evotec.com

IR Contact Evotec SE:
Volker Braun, SVP Head of Global Investor Relations & ESG, Phone: +49.(0)40.56081-775, volker.braun@evotec.com

SOURCE: Evotec AG via EQS Newswire

View source version on accesswire.com:
https://www.accesswire.com/609705/Evotec-Achieves-Milestone-in-Its-Neurodegeneration-Collaboration-with-Bristol-Myers-Squibb

Staff

Recent Posts

FinThrive Introduces Agentic AI at HFMA 2025 to Help Customers Transform Healthcare Revenue Cycle Management Performance

Company to also highlight advancements in denials and underpayments management and speak to the measurable…

15 hours ago

FinThrive Debuts Denials and Underpayments Analyzer, a Unified Solution for Denials and Underpayments, at HFMA 2025

Next generation analyzer helps hospitals protect revenue before it's lost by delivering timely end-to-end visibility…

15 hours ago

Novo Nordisk A/S: CagriSema 2.4 mg / 2.4 mg demonstrated 22.7% mean weight reduction in adults with overweight or obesity in REDEFINE 1, published in New England Journal of Medicine

Data presented simultaneously at the American Diabetes Association’s® 85th Scientific Sessions, showed mean weight reduction…

18 hours ago

Dr. Anosh Ahmed Advances Chicago Crypto Hub Project as Federal Support for Blockchain Grows

Dr. Anosh Ahmed repurposes West Side warehouse into blockchain innovation center, targeting 250+ jobs and…

18 hours ago

Dr. Anosh Ahmed Advances Chicago Crypto Hub Project Amid National Pro-Crypto Policy Shift

Dr. Anosh Ahmed converts vacant West Side warehouse into blockchain innovation hub, creating 250+ jobs…

18 hours ago

BioAge Labs to Present Preclinical Data on APJ Agonism for Diabetic Obesity and Heart Failure at the American Diabetes Association (ADA) 85th Scientific Sessions

Treatment with apelin receptor agonist enhanced glycemic control and demonstrated cardioprotective effects, with additive benefits…

18 hours ago