Key scientific achievements expand the pipeline of high value molecular glue degraders for unmet medical needs
Performance-based and program-based payments of in total US$ 75 m to Evotec
HAMBURG, DE / ACCESS Newswire / April 24, 2025 / Evotec SE (Frankfurt Stock Exchange:EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ:EVO) today announced further significant progress of the Company's strategic research collaboration with Bristol Myers Squibb relating to building a high value molecular glue-based pipeline for unmet medical needs. Performance-based and program-based achievements trigger payments of in total US$ 75 m to Evotec.
Initiated in 2018, the collaboration combines Evotec's high-performance multi-omics screening as well as AI-supported data analytics and drug design capabilities with Bristol Myers Squibb's industry-leading library of cereblon E3 ligase modulators ("CELMoDs™"). The collaboration, expanded in 2022, continues to deliver on its goal to identify novel molecular glue degraders for high-value targets in the field of oncology and beyond. The performance-based and program-based achievements further strengthen Evotec's joint program pipeline.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are proud to see this continued expansion of our molecular glue degrader pipeline together with Bristol Myers Squibb who is leading the industry in this field emphasizing the value of our systematic and industrialized PanOmics-based approach. Our growing pipeline of molecular degraders addressing a broad panel of high value targets harbors an enormous potential to deliver multiple first-in-class products into the market. We are well on track to deliver on our plans."
About molecular glue degraders Conventional small molecule therapeutics work via a drug-induced interference with a protein activity. This limitation to agonistic or antagonistic functions renders about 90% of proteins "undruggable". Also, conventional small molecules only work while they are actively binding to the receptor, which typically requires a treatment regimen consisting of one or even several carefully dosed medications every day.
Molecular glue degraders are compounds that induce interactions between an E3 ubiquitin ligase and a molecular target. The induced interaction results in ubiquitination and subsequent degradation of the recruited protein. Through this mechanism of action molecular glues are not restricted to the agonistic/antagonistic features of a protein, thus massively expanding the range of the druggable proteome. Also, the molecular glue itself is not degraded in the process and can trigger the degradation process several times over, thus leading to longer-lasting therapeutic effects.
About Evotec's strategic collaboration with Bristol Myers Squibb in molecular glues In 2018, Evotec entered a long-term strategic drug discovery and development collaboration in the field of molecular glues with Celgene, now Bristol Myers Squibb. Bristol Myers Squibb is a leader in this field based on its unique library of cereblon E3 ligase modulators (CELMoDs™). The aim of this strategic alliance is to discover and develop a leading pipeline of molecular glue degraders for a range of therapeutic indications leveraging all of Evotec's proprietary PanOmics and PanHunter platforms as well as AI/ML-based drug discovery and development capabilities.
Evotec applies high-end proteomics and transcriptomics at industrial scale to profile and select promising drug candidates based on comprehensive cell biological profiles. Evotec's leading PanOmics screening capabilities are delivering unmatched throughput. The selection of the most promising candidates for drug development is facilitated by Evotec's PanOmics data analysis platform PanHunter. PanHunter supports the integration and analysis of these data sets and thereby enables the selection of the most promising CELMoDs™ for further progression into lead optimization.
Evotec announced in May of 2022 that the Company has further extended and expanded its collaboration with Bristol Myers Squibb for another 8 years as the initial collaboration proved to be highly productive in generating a promising pipeline of molecular glue degraders.
About Evotec SE Evotec is a life science company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and make them available to the patients. The Company's multimodality platform comprises a unique combination of innovative technologies, data and science for the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. Evotec provides high value strategic partnershipsand solutions to all Top 20 Pharma and over 800 biotechnology companies, academic institutions, as well as other healthcare stakeholders. Evotec has strategic activities in a broad range of currently underserved therapeutic areas, including e.g. neurology, oncology, as well as metabolic and infectious diseases. Within these areas of expertise, Evotec aims to create the world-leading co-owned pipeline for innovative therapeutics and has to-date established a portfolio of more than 100 proprietary and co-owned R&D projects from early discovery to clinical development. Evotec operates globally with more than 4,800 highly qualified people. The Company's sites in Europe and the USA offer highly synergistic technologies and services and operate as complementary clusters of excellence. For additional information please go to www.evotec.com and follow us on X/Twitter @Evotec and LinkedIn .
Forward-looking statements This announcement contains forward-looking statements concerning future events, including the proposed offering and listing of Evotec's securities. Words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "should," "target," "would" and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding Evotec's expectations for revenues, Group EBITDA and unpartnered R&D expenses. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Evotec at the time these statements were made. No assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Evotec. Evotec expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Evotec's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For further information, please contact:
Investor Relations Volker Braun EVP Head of Global Investor Relations & ESG Volker.Braun@evotec.com
