Bristol-Myers Squibb Company (JOBS) Enters Global Collaboration with Nissan Chemical Industries, Ltd. and Teijin Pharma on Novel Atrial Fibrillation Compound; Bristol to Pay $40 Million for Heart Drug
Published: Mar 05, 2009
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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