Bristol-Myers Squibb Company has announced it has entered into two separate agreements to license BMS-986168, an anti-eTau compound in development for Progressive Supranuclear Palsy (PSP), to Biogen, and BMS-986089, an anti-myostatin adnectin in development for Duchenne Muscular Dystrophy (DMD), to Roche.
Under the agreement to license BMS-986168, Biogen will pay to Bristol-Myers Squibb an upfront payment of $300 million with potential milestone payments of up to $410 million. Biogen also will assume all remaining obligations to the former stockholders of iPierian, Inc. related to Bristol-Myers Squibb’s acquisition of the company in 2014. Under the agreement to license BMS-986089, Roche will pay to Bristol-Myers Squibb an upfront payment of $170 million with potential milestone payments of up to $205 million. Bristol-Myers Squibb will receive tiered double-digit royalties if either asset is approved and commercialized. These agreements are subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, and are expected to close in the second quarter of 2017.
BMS-986168 is a monoclonal antibody designed to bind to and decrease levels of extracellular Tau (eTau) protein. It is currently being investigated as a treatment option for patients with PSP, with the potential for future development in other neurodegenerative diseases such as Alzheimer’s disease.
BMS-986089 is a novel fusion protein designed to suppress myostatin, a negative regulator of muscle growth. It is currently being investigated as a treatment option for patients with DMD, and has the potential for study in other neuromuscular disorders.