04:12 AM EDT, 08/08/2024 (MT Newswires) -- Evotec (EVO) said Thursday it received a $25 million payment to advance further research under its neuroscience partnership with Bristol-Myers Squibb ( BMY ) .

Evotec received the payment after it achieved a key milestone in the collaboration, which was formed in December 2016 to develop disease-modifying treatments for a variety of neurodegenerative diseases.

In 2023, Bristol-Myers and Evotec extended and expanded their partnership for an additional eight years.

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