US: Bristol-Myers licensing 2 compounds to raise assets

Bristol-Myers Squibb announced on Thursday that it has entered into two separate agreements with Biogen and Roche Holding to license Anti-eTau and Anti-Myostatin Compounds, respectively.

Under the agreement, Bristol-Myers will license an anti-eTau compound in development for Progressive Supranuclear Palsy or PSP, to Biogen, and an anti-myostatin adnectin in development for Duchenne Muscular Dystrophy or DMD, to Roche.

Under the deal, Biogen will pay to Bristol-Myers an upfront payment of $300 million with potential milestone payments of up to $410 million.

The two agreements are subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, and are expected to close in the second quarter of 2017.

Mike Burgess, head of Cardiovascular, Fibrosis and Immunoscience Development, Bristol-Myers, said, “Licensing these assets to Biogen and Roche will enable Bristol-Myers Squibb to prioritize the other promising opportunities for asset development that have advanced across our diversified portfolio. We recognize the significant unmet medical needs for patients with PSP and with DMD, and are pleased to put the future development of these compounds into the hands of Biogen and Roche…”

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