Evotec And Bristol Myers Squibb Strengthen Proteomics Partnership With $50M Payment, Expanding Molecular Glue Pipeline
Portfolio Pulse from Benzinga Newsdesk
Evotec and Bristol Myers Squibb have expanded their proteomics partnership with a $50 million payment to Evotec. This collaboration aims to enhance the pipeline of molecular glue degraders beyond oncology, with potential milestone payments increasing the deal's value.
October 23, 2024 | 6:53 am
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Bristol Myers Squibb has strengthened its partnership with Evotec by making a $50 million payment, aiming to expand their molecular glue pipeline beyond oncology.
The $50 million payment to Evotec signifies a strong commitment from Bristol Myers Squibb to expand its molecular glue pipeline, which could lead to future revenue growth and innovation in new therapeutic areas.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
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Evotec receives a $50 million payment from Bristol Myers Squibb, enhancing its molecular glue pipeline and potentially benefiting from future milestone payments.
The $50 million payment from Bristol Myers Squibb provides Evotec with significant financial resources to expand its molecular glue pipeline, potentially leading to future milestone payments and increased valuation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90