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Evotec Receives Milestone Payment from BMS for Protein Degradation Collaboration

First patient dosed initiates Phase 1 clinical evaluation of BMS-986506 for the treatment of advanced clear cell renal cell carcinoma.

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By: Charlie Sternberg

Associate Editor, Contract Pharma

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.

“In this unique collaboration, we follow a systematic approach to discovering molecular glues with tremendous therapeutic potential,” said Evotec Chief Scientific Officer Cord Dohrmann. He added that the Phase 1 start “marks the first clinical milestone in the strategic protein degradation partnership with BMS.”

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.

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