Evotec (EVO) achieved substantial progress in its strategic partnership with Bristol Myers Squibb (BMY) relating to building a molecular glue-based pipeline. This triggered a performance-based and program-based payment of $75 million payable to the company. Shares rose nearly 12% on Aug 13, likely in response to this announcement. The partnership was initially entered between Evotec and Celgene (acquired by Bristol Myers in 2019) in 2018 to discover and develop drugs in the field of molecular glue degraders ...