BRIEF—Evotec and BMS extend neurodegeneration deal

Germany’s Evotec has extended and expanded a strategic partnership with US pharma major Bristol Myers Squibb in neurodegeneration that was originally signed in 2016.

The aim of the eight-year extension of the strategic alliance is to further broaden the program pipeline in neurodegenerative diseases.

Evotec receives a $50 million upfront payment, undisclosed license and performance milestone payments, as well as tiered royalties of up to low double-digit percentages on product sales.

Alongside the upfront and downstream performance milestone payments, the overall transaction results in a deal potential of $4 billion.