May 11 Quick Takes: BMS extends protein degradation partnership with Evotec
Plus: Delay for Amicus’ Pompe therapy, and updates from Artax, Cortexyme and more
Evotec SE (Xetra:EVT; NASDAQ:EVO) added a $200 million upfront payment to its balance sheet this week when Bristol Myers Squibb Co. (NYSE:BMY) extended a 2018 protein degradation partnership with the biotech for an additional eight years. The agreement adds runway to the companies’ collaboration to develop therapies using molecular glues. It includes milestones that could deliver a total of $5 billion to Evotec, plus royalties.
Those waiting for an FDA decision on miglustat and cipaglucosidase alfa from Amicus Therapeutics Inc. (NASDAQ:FOLD) will have to wait a further three months for a decision on the products known as AT-GAA after the agency extended its review. The extension did not relate to a request for additional clinical data, and the biotech said the additional time would allow FDA to complete a pre-approval inspection of the manufacturing site of WuXi Biologics Inc. (HKEX:2269) in China. The new PDUFA dates are Aug. 29 for miglustat and Oct. 29 for cipaglucosidase alfa. ...