EQS-News: Evotec Announces Strong Progress in Strategic Protein Degradation Partnership with Bristol Myers Squibb

Hamburg, Germany, August 13, 2024:
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) today announced further strong progress in the company’s strategic partnership with Bristol Myers Squibb related to building a molecular glue-based pipeline. Performance and program-based achievements trigger payments totaling $75 million to Evotec.

Initiated in 2018, the partnership combines Evotec’s high-throughput multiomics screening and analysis capabilities with Bristol Myers Squibb’s industry-leading library of cereblon E3 ligase modulators (“CELMoDs™”). Expanded in 2022, the partnership continues to deliver on its goal of identifying novel molecular glue degraders targeting high-value targets in oncology and beyond. The performance-based and program-based wins further strengthen Evotec’s joint program pipeline.

Dr. Cord Dohrmann, Chief Scientific Officer of Evotec, commented: “Bristol Myers Squibb is leading the industry in the field of molecular glue degraders, which is clearly one of the most exciting emerging therapeutic modalities. Through our highly systematic and industrialized PanOmics-based approach, the pipeline of molecular degraders addressing high-value targets continues to grow and mature. The breadth and depth of the pipeline is projected to deliver multiple first-in-class products to market. We are well on our way to delivering on our plans.”

About molecular glue degraders
Conventional small molecule therapeutics work through drug-induced interference with a protein’s activity. This limitation to agonistic or antagonistic functions renders about 90% of proteins “untreatable.” Furthermore, conventional small molecules work only while they are actively binding to the receptor, which typically requires a treatment regimen consisting of one or even several carefully dosed drugs every day.

Molecular glue degraders are compounds that induce interactions between an E3 ubiquitin ligase and a molecular target. The induced interaction results in ubiquitination and subsequent degradation of the recruited protein. Through this mechanism of action, molecular glues are not restricted to the agonistic/antagonistic characteristics of a protein, thus massively expanding the reach of the druggable proteome. Furthermore, the molecular glue itself is not degraded in the process and can trigger the degradation process multiple times, thus leading to longer-lasting therapeutic effects.

About Evotec’s strategic partnership with Bristol Myers Squibb in molecular adhesives
In 2018, Evotec entered into a long-term strategic partnership for drug discovery and development in the field of molecular glues with Celgene, now Bristol Myers Squibb. Bristol Myers Squibb is a leader in this field based on its proprietary library of cereblon E3 ligase modulators (CELMoDs™). The goal of this strategic alliance is to discover and develop a leading pipeline of molecular glue degraders for a range of therapeutic indications, leveraging all of Evotec’s proprietary PanOmics and PanHunter platforms, as well as AI/ML-based drug discovery and development capabilities.

Evotec applies cutting-edge proteomics and transcriptomics on an industrial scale to profile and select promising drug candidates based on comprehensive cell biological profiles. Evotec’s leading PanOmics screening capabilities are delivering unparalleled throughput. The selection of the most promising candidates for drug development is facilitated by Evotec’s PanOmics data analytics platform, PanHunter, which was recently commercially launched as a software-as-a-service (“SAAS”) solution. PanHunter supports the integration and analysis of these datasets and thus enables the selection of the most promising CELMoDs™ for further progression into lead optimization.

Evotec announced in May 2022 that the company has extended and further expanded its partnership with Bristol Myers Squibb for an additional 8 years, as the initial collaboration has proven to be highly productive in generating a promising pipeline of molecular glue degraders.

About Evotec SE
Evotec is a life sciences company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and bring them to patients. The company’s multimodal platform comprises a unique combination of innovative technologies, data and science for the discovery, development and production of first- and best-in-class pharmaceutical products. Evotec provides high-value pipeline partnerships and co-creation solutions to all top 20 pharmaceutical companies and over 800 biotechnology companies, academic institutions as well as other healthcare stakeholders. Evotec has strategic activities in a wide range of currently underserved therapeutic areas, including for example neurology, oncology as well as metabolic and infectious diseases. Within these areas of expertise, Evotec aims to create the world’s leading co-owned pipeline for innovative therapeutics and has to date established a portfolio of over 200 co-owned and co-owned R&D projects from early discovery through clinical development. Evotec operates globally with more than 5,000 highly qualified people. The company’s sites in Europe and the USA offer highly synergistic technologies and services and operate as complementary clusters of excellence. For more information, please visit www.evotec.com and follow us on X/Twitter @Evotec and LinkedIn.

Forward-looking statements
This announcement contains forward-looking statements about future events, including the proposed offering and listing of Evotec’s securities. Words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, “potential”, “should”, “target”, “would” and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments on Evotec’s expectations for revenues, Group EBITDA and non-partner R&D expenditures. These forward-looking statements are based on information available to Evotec and expectations and assumptions considered reasonable at the time such statements were made. No assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based on a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond Evotec’s control. Evotec expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Evotec’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For more information, please contact:

Media

Gabriele Hansen
SVP Head of Global Corporate Communications
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Hinnerk Rohwedder
Director of Global Corporate Communications
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Investor Relations

Volker Braun
EVP Head of Global Investor Relations and ESG
[email protected]