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Evotec Expands Neuroscience Collaboration with Bristol Myers

Author: Vandana Singh | October 08, 2021 09:36am

  • Bristol Myers Squibb & Co (NYSE:BMY) has expanded its neuroscience collaboration with Evotec SE (OTC:EVTCY) to include a new cell type.
  • Related: Bristol Myers Exercises Option In-License Evotec's Neurodegenerative Candidate.
  • The expansion has triggered a payment of $9 million to Evotec.
  • The collaboration was initiated in December 2016 to identify disease-modifying treatments for a broad range of neurodegenerative diseases. 
  • The collaboration pursues an approach to discovering and developing novel medicines by leveraging Evotec's iPSC platform using patient-derived disease models.
  • The latest expansion will enable the companies to investigate the root causes of many neurodegenerative diseases in a cell type-specific fashion using cells directly derived from patients. 
  • In addition, molecular disease signatures will be used to define detailed molecular disease phenotypes using Evotec's panomics platform, EVOpanOmics & EVOpanHunter.
  • Price Action: EVTCY stock closed at $90.38 on Thursday, while BMY stock is down 0.77% at $58.56 during the market session on the last check Friday.

Posted In: BMY EVOTF EVTCY


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