Evotec announced a milestone payment after Bristol Myers Squibb accepted an IND derived from their strategic protein‑degradation alliance. The $5 million milestone reflects progress in a co‑development program focused on targeted protein degradation modalities. Evotec’s platforms for discovery and translational development were credited for accelerating the IND‑enabling activities. The payment underscores biopharma’s continued investment in degrader strategies and validates service‑partner models where platform companies accelerate program advancement in collaboration with large pharmas.