Evotec’s CNS deal with Bristol Myers gets $50M infusion and eight-year extension
Bristol Myers Squibb is upping the ante on its neurodegeneration partnership with German biotech Evotec. The Big Pharma will dole out $50 million upfront to expand the seven-year collaboration by another eight years.
Originally inked with Celgene, the partnership will now balloon to a potential $4 billion as the partners look at precision medicines across a variety of modalities. The first program in-licensed by BMS, EVT8683 for $20 million in 2021, is a small molecule in a Phase I study. Low double-digit tiered royalties are also on the table.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.