Evotec, BMS Advance Targeted Protein Degradation Projects

Evotec has achieved key milestones in its partnership with Bristol Myers Squibb in the field of targeted protein degradation with the first two targets transitioning into drug discovery after completing a comprehensive target validation process.

The companies entered a long-term strategic discovery and development partnership in 2018 with the goal to identify novel drug targets. The partnership leverages Evotec's PanOmics platform, which combines enhanced throughput proteomics, high throughput transcriptomics and cell imaging with an integrated data analysis platform PanHunter. This has enabled the generation of a pipeline of novel first-in-class targeted protein degradation projects.

The first two projects have now transitioned into lead optimization following validation on Evotec's platforms. Targeted degradation of these novel targets impacts an established cancer pathway with the promise of providing new therapeutic options for difficult-to-treat breast cancers. Evotec will be responsible for progressing the drug discovery programs to IND filing.

Evotec receives undisclosed milestone payments as well as research funding for the further development of the programs and can earn further success-based milestones. Additionally, Evotec is entitled to royalties on sales of programs developed under the partnership.