PRINCETON, N.J.--(BUSINESS WIRE)--Bristol-Myers Squibb Company (NYSE: BMY - News) today announced a global collaboration with Nissan Chemical Industries, Ltd. and Teijin Pharma Limited for the development and commercialization of NTC-801, a selective inhibitor of the acetylcholine-activated potassium ion channel (IKACh), currently in Phase I development in Japan, for the maintenance of normal sinus rhythm in patients with atrial fibrillation.
Under the terms of the collaboration agreement, Nissan Chemical and Teijin Pharma will grant to Bristol-Myers Squibb exclusive rights for the development and commercialization of NTC-801, and certain backup compounds, worldwide, excluding Japan. An upfront cash payment of $40 million, potential development based milestone payments of up to $170 million, sales based milestones of up to $175 million and royalties on net sales for licensed products are payable by Bristol-Myers Squibb. Nissan Chemical has previously granted Teijin Pharma exclusive rights to NTC-801 in Japan.
“There is significant unmet medical need for a more effective and safer therapy for atrial fibrillation,” said Francis Cuss, MD, senior vice president, Discovery and Exploratory Clinical Research, Bristol-Myers Squibb. “We are pleased to have the opportunity to work with Nissan Chemical and Teijin Pharma to develop this atrial-selective antiarrhythmic medicine. NTC-801 provides us with the opportunity to leverage our company’s deep expertise in helping patients prevail over cardiovascular disease, and further strengthens and expands our pipeline in cardiovascular adjacencies.”
NTC-801 is an oral inhibitor of the acetylcholine-activated potassium IKACh channel in Phase I development in Japan for the treatment of atrial fibrillation/flutter. Because IKACh channel activity is apparent in the atria, but not in the ventricles, NTC-801 could provide a more targeted and safer therapy for atrial fibrillation.
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Bristol-Myers Squibb Company
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