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March 2023 Ad hoc release according to Article 17 MAR of the Regulation (EU) No 596/2014 Evotec and Bristol Myers Squibb expand strategic neurodegeneration partnership Hamburg, Germany - Evotec SE (Frankfurt Stock Exchan

Tuesday, March 28, 2023 1 min read
Key Takeaway: Evotec SE has announced the expansion and extension of its strategic partnership with Bristol Myers Squibb in the field of neurodegeneration, originally established in 2016. The partnership has been extended for eight years, with the aim of broadening the programme pipeline for neurodegenerative diseases. Evotec will receive a $50 million upfront payment along with additional undisclosed milestone payments and royalties, making the total deal potential reach $4 billion.

Market Sentiment Analysis

POSITIVE FACTORS

  • Expansion of the strategic partnership with Bristol Myers Squibb is a significant development.
  • An upfront payment of $50 million highlights confidence in the collaboration.
  • The deal has a potential value of $4 billion, indicating great future prospects.
  • The partnership aims to broaden the programme pipeline in the promising field of neurodegenerative diseases.

Full Press Release Details

EVOTEC AND BRISTOL MYERS SQUIBB EXPAND STRATEGIC NEURODEGENERATION PARTNERSHIP
evo_ex991.htm EXHIBIT 99.1
Ad hoc release according to Article 17 MAR of the Regulation (EU) No 596/2014
Evotec and Bristol Myers Squibb expand strategic neurodegeneration partnership
Hamburg, Germany - Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE 000 566480 9, WKN 566480; NASDAQ: EVO) announces today that the Company has extended and expanded its strategic partnership with Bristol Myers Squibb (NYSE:BMY) in neurodegeneration, originally signed in 2016. Aim of the 8-year extension of the strategic alliance is to further broaden the programme pipeline in neurodegenerative diseases.
Evotec receives a $ 50 m upfront payment, undisclosed license and performance milestone payments, as well as tiered royalties up to low double-digit percentages on product sales. Including the upfront and downstream performance milestone payments, the overall transaction results in a deal potential of $ 4 bn.
- End of ad hoc release -
Contact: Dr Werner Lanthaler, Chief Executive Officer, Evotec SE, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49.(0)40.560 81-242, werner.lanthaler@evotec.com

Frequently Asked Questions

What is the main objective of the Evotec and Bristol Myers Squibb partnership?

The partnership aims to expand the program pipeline for neurodegenerative diseases.

How much upfront payment did Evotec receive from Bristol Myers Squibb?

Evotec received a $50 million upfront payment.

What is the total potential value of the Evotec deal with Bristol Myers Squibb?

The overall transaction could reach a value of $4 billion.

When was the original partnership between Evotec and Bristol Myers Squibb signed?

The original partnership was signed in 2016.

What type of royalties is Evotec set to receive from product sales?

Evotec will receive tiered royalties up to low double-digit percentages.

Tags: EVO Viatris Investor Conferences Healthcare Evotec Bristol Myers Squibb neurodegeneration strategic partnership
Last updated: Mar 28, 2023