On April 20, 2023 Evotec-partner Tubulis and Bristol Myers Squibb (NYSE: BMY) reported that they have entered into a strategic license agreement to develop differentiated antibody-drug conjugates ("ADCs") (Press release, Evotec, APR 19, 2023, View Source [SID1234630348]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Through the license agreement, Bristol Myers Squibb will gain exclusive rights to access Tubulis’ Tubutecan payloads in combination with Tubulis’ proprietary P5 conjugation platform for the development of a selected number of highly differentiated ADCs to treat solid tumors. The terms of the agreement include an upfront payment of $22.75 million to Tubulis in addition to the potential for over $1 billion in development, regulatory, and commercial milestone payments plus royalty payments on resulting marketed products.

Evotec made a strategic equity investment in Tubulis GmbH by participating in the company’s Series B financing round in May 2022.