Powerful Intelligence for Dealmakers
Companies: |
Bristol-Myers Squibb Oncolys BioPharma |
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Announcement date: | Dec 20 2010 |
Deal value, US$m: | 286.0 : deal value |
Announcement date: | Dec 20 2010 |
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Industry sectors: |
Bigpharma
Pharmaceutical |
Therapy areas: |
Infectives
»
Viral
»
HIV
|
Technology types: |
Biological compounds
Drug delivery Oligonucleotide Peptides |
Deal components: |
Development
Licensing Manufacturing |
Stages of development: |
Phase II
|
Geographic focus: |
Worldwide
|
Deal value, US$m: | 286.0 : deal value |
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Upfront, US$m: |
n/d
:
upfront payment
|
Milestones, US$m: |
n/d
:
regulatory milestone payments
n/d : sales milestone payments |
Royalty rates, %: |
n/d
:
tiered royalty payments on worldwide sales
|
20 December 2010
Bristol-Myers Squibb will acquire exclusive worldwide rights to manufacture, develop and commercialize festinavir, a once-a-day, orally available nucleoside reverse transcriptase inhibitor (NRTI) in Phase II development for HIV.
Oncolys may receive up to $286 million including upfront, development, regulatory and sales milestone payments.
Oncolys is also eligible to receive tiered royalties on the worldwide product sales.
Bristol-Myers Squibb and Oncolys BioPharma Enter Global Licensing Agreement for Investigational HIV Compound
Bristol-Myers Squibb and Oncolys BioPharma Enter Global Licensing Agreement for Investigational HIV Compound
20 December 2010
NEW YORK & TOKYO--(BUSINESS WIRE)--Bristol-Myers Squibb Company (NYSE:BMY) and Oncolys BioPharma Inc., a privately held biotechnology company based in Japan, announced today that the companies have signed a definitive agreement under which Bristol-Myers Squibb will acquire exclusive worldwide rights to manufacture, develop and commercialize festinavir, a once-a-day, orally available nucleoside reverse transcriptase inhibitor (NRTI) in Phase II development for HIV.
Under the terms of the agreement, Oncolys may receive up to $286 million including upfront, development, regulatory and sales milestone payments. Oncolys is also eligible to receive tiered royalties on the worldwide product sales.
"Bristol-Myers Squibb has been dedicated to helping patients prevail over HIV for more than two decades and is committed to the ongoing discovery, development and delivery of medicines to fight HIV/AIDS globally," said Brian Daniels, senior vice president, Development. "The profile of festinavir offers the possibility of improvement in the safety of long-term HIV treatment, an area of significant unmet medical need."
President & CEO of Oncolys BioPharma, Mr. Yasuo Urata said, "I'm honored to have completed this license agreement with Bristol-Myers Squibb for the development and commercialization of festinavir. For many years I have been working for the development of medicines in the fight against HIV/AIDS, and I'm convinced that festinavir has the possibility to be a potent and effective NRTI with a promising resistance profile. Also festinavir's once-daily dosage is essential for treating HIV patients worldwide."
About Festinavir
Festinavir is a next-generation, orally available nucleoside reverse transcriptase inhibitor (NRTI) in Phase II development for HIV. Early preclinical studies suggest that festinavir could have an improved safety profile over previous generations of NRTIs. Festinavir was licensed to Oncolys in 2006 from Yale University.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information, please visit http://www.bms.com or follow us on Twitter at http://twitter.com/bmsnews.
About Oncolys BioPharma
Oncolys BioPharma is a clinical-stage Japanese biotechnology company whose mission is to serve patients, and develop effective, innovative, and safe drugs through novel approaches with the goal of treating people worldwide from cancer and serious infectious diseases. Oncolys BioPharma focuses on the development and partnering of not only HIV drug but also anti-hepatitis C and anti-cancer drugs. For more information, please visit www.oncolys.com.
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