NEW YORK (GenomeWeb) — Evotec said today that it has entered into a drug-discovery alliance with biotech firm Celgene that will focus on targeted protein degradation.
Under the terms of the deal, the partners will use Evotec's Panomics platform — which integrates genomic, transcriptomic, and proteomic data for analysis with the company's PanHunter bioinformatic technology — to identify difficult-to-track drug targets.
Celgene will hold the exclusive rights to all drug candidates arising from the alliance. Evotec will receive an undisclosed upfront payment from Celgene, and stands to receive milestones and tiered, potentially double-digit royalty payments on each licensed program.
Additional terms were not disclosed.
"Addressing traditionally undruggable targets via targeted protein degradation is a highly attractive and promising approach which has not been explored systematically," Evotec CSO Cord Dohrmann said in a statement.
The deal marks the third strategic drug-discovery partnership between Evotec and Celgene, which previously forged alliances in oncology and neurodegenerative disease.