License excludes Japan, and Nissan could make up to $245 million in milestones.

Bristol-Myers Squibb is initially paying for $40 million for Nissan Chemical Industries’ early-stage arterial fibrillation drug and back-up compounds. The global agreement excludes Japan and calls for $170 million in development success-based fees, $175 million in sales-related milestones, and royalties.

NTC-801 is an oral inhibitor of the acetylcholine-activated potassium IKACh channel. It is being investigated for the maintenance of normal sinus rhythm in patients with atrial fibrillation. Since 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, according to the companies.

Teijin Pharma owns Japanese rights to NTC-801.

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