Evotec Extends Partnership With Bristol Myers Squibb for Potential $4 Billion
By Cecilia Butini
Evotec SE said Tuesday that it has expanded a partnership originally signed in 2016 with Bristol Myers Squibb Co. for the development of treatments for neurodegenerative diseases, which could potentially result in a deal of $4 billion.
The German biotechnology company said the extension is for eight years, and that it will receive an upfront payment of $50 million, plus license and performance milestone payments for an undisclosed sum, and 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 billion," Evotec said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
March 28, 2023 06:12 ET (10:12 GMT)
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