Evotec Achieves Key Milestones in Its Collaboration with Bristol Myers Squibb On Targeted Protein Degradation
- TWO NOVEL SOLID TUMOUR TARGETS FROM THE PARTNERSHIP TRANSITION INTO DRUG DISCOVERY
- TARGETS IDENTIFIED AND VALIDATED THROUGH EVOTEC'S PROPRIETARY PANOMICS PLATFORM
HAMBURG, GERMANY / ACCESSWIRE / December 17, 2020 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) today announced that the Company 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.
Evotec and Bristol Myers Squibb (the successor in interest to Celgene) initiated their long-term strategic drug discovery and development partnership in the field of targeted protein degradation in 2018 with the goal to identify novel drug targets. The partnership leverages Evotec's proprietary 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 optimisation after completing a comprehensive validation process 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 programmes to IND filing.
Evotec receives undisclosed milestone payments as well as research funding for the further development of the programmes and can earn further significant success-based milestone payments. Additionally, Evotec is entitled to tiered, potentially double-digit royalties of the net sales of programmes developed under the partnership.
Dr Cord Dohrmann, Chief Scientific Officer of Evotec, commented: "We are extremely pleased with the progress of this unique and very exciting collaboration with Bristol Myers Squibb. Our PanOmics approach to targeted protein degradation is based on proprietary enhanced and high throughput multi-omics and phenotypic imaging platforms which allow unbiased and comprehensive profiling of novel targets and drug candidates. We are optimistic that many more projects will be taken forward as the collaboration advances and highly appreciate the opportunity to work with the world-leading company in targeted protein degradation."
PanOmics 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. This includes Evotec's data analysis platform "PanHunter", a proprietary, integrated, user-centred bioinformatics platform which facilitates the analysis of PanOmics data integrated with other metadata sets.
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 3,400 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 more than 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.
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.
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SOURCE: Evotec AG via EQS Newswire
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