HAMBURG (dpa-AFX) - For Hamburg-based drug discovery and development company Evotec, its long-standing collaboration with pharmaceutical company Bristol-Myers Squibb is paying off. The Hanseatic company announced on Thursday that it had made significant progress in the field of protein degradation. Evotec will therefore receive a total of $75 million under the agreement. The news was well received on the stock market, with the share price rising by almost four percent in pre-market trading.
Evotec has been working with Bristol-Myers Squibb since 2018 and expanded the partnership in 2022./tav/stk
