Evotec’s progress in BMS tie-up to prompt $75 million milestone payments
German drug discovery company Evotec (ETR: EVT) has announced the latest progress of its strategic partnership with US pharma major Bristol Myers Squibb (Nasdaq: BMS) relating to building a molecular glue-based pipeline.
Performance-based and program-based achievements are to trigger payments totalling $75 million to Evotec, a company that has drug discovery and development partnerships in place with many of the world’s leading pharma and biotech players.
Announcement of this progress on Tuesday sent shares in Evotec upwards by around 4% by early afternoon trading in Europe.
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