On November 10, 2021 Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809, NASDAQ: EVO) reported that the Company reached additional programme designations within its neuroscience collaboration with Bristol Myers Squibb (NYSE:BMY) triggering payments of in total US$ 40 m to Evotec (Press release, Evotec, NOV 10, 2021, View Source [SID1234594996]).

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These target-based programme designations further bolster the growing pipeline and are expected to follow EVT8683, which Bristol Myers Squibb opted to license after the successful filing of an IND application with the FDA.

Dr Cord Dohrmann, Chief Scientific Officer of Evotec, said: "Our collaboration with BMS continues to be highly productive. These achievements are a testimony of the great team spirit between Bristol Myers Squibb and Evotec colleagues that enabled us to advance highly challenging programmes to key value inflection points."

The collaboration was initiated in December 2016 with the goal of identifying disease-modifying treatments for a broad range of neurodegenerative diseases. Currently approved drugs only offer short-term management of the patients’ symptoms and there is a huge unmet medical need for therapeutic modalities that slow down or reverse disease progression. The collaboration leverages Evotec’s industrialised iPSC platform using patient-derived disease models, which is one of the largest and most sophisticated platforms in the industry.