Evotec and Bristol Myers Squibb to Extend Their Targeted Protein Degradation Partnership

Evotec announced on April 26, 2021 that Bristol Myers Squibb has exercised its option to extend their 2018 strategic drug discovery and development partnership in the field of targeted protein degradation.

The collaboration employs Evotec’s PanOmics platform, which combines throughput proteomics, high throughput transcriptomics, and cell imaging with PanHunter, a data analysis platform, Evotec said in a company press release. Since launching the partnership, the companies have established a pipeline of novel first-in-class targeted protein degradation projects, two of which have transitioned into lead optimization.

“Targeted protein degradation is an emerging new therapeutic modality with enormous potential to reach not only proven drug targets through a novel mechanism of action, but also traditionally undruggable targets and thus discover and develop first-in-class, disease-modifying therapeutics,” said Cord Dohrmann, chief scientific officer of Evotec, in the press release. “The success of our collaboration with Bristol Myers Squibb to date has led to Bristol Myers Squibb’s decision to expand and extend this collaboration. We are honored and extremely proud to collaborate with the industry-leading company in the field of protein homeostasis and are very much looking forward to continue our efforts at an accelerated pace.”