Evotec Gets $10 Million Milestone as BMS Starts Phase 1 Trial of BMS-986506
Bristol Myers Squibb started a Phase 1 trial of BMS-986506 in clear cell renal cell carcinoma, triggering a $10 million milestone payment to Evotec SE. The candidate is the first molecular glue from the companies’ protein-degradation partnership to enter human testing.
Bristol Myers Squibb has started a Phase 1 trial of BMS-986506, a cereblon E3 ligase modulator, in clear cell renal cell carcinoma. The move brings the first jointly developed molecular glue candidate from the companies’ protein-degradation partnership into human testing. The study also triggers a $10 million milestone payment to Evotec SE.
BMS-986506 emerged from a collaboration that combines Evotec’s multi-omics and AI-enabled discovery platforms with Bristol Myers Squibb’s library of CELMoD agents. The companies began working together in 2018, expanding the partnership in 2022 to pursue new molecular glue degraders for oncology and other diseases.
Molecular glue degraders work by inducing interactions between an E3 ubiquitin ligase and a target protein, resulting in targeted protein degradation. The approach is designed to expand the range of druggable proteins beyond what can be reached with traditional small molecules.
Evotec applies large-scale proteomic and transcriptomic screening, supported by its PanHunter analytics platform, to identify and optimize drug candidates within the collaboration.