Ensemble could earn $29.5 million in milestones per drug developed against eight targets.

Bristol-Myers Squibb (BMS) is initially paying Ensemble Discovery $5 million to discover and develop drug candidates against up to eight targets. Ensemble will receive another $7.5 million in research funding and up to $29.5 million in milestones per product.

Ensemble will use its drug discovery platforms and Ensemblin collections, which consists of oral drug molecules. They are synthetic macrocycles and hence have favorable pharmaceutical properties and powerful protein surface binding properties, Ensemble reports.

Ensemble developed these compounds to address disease targets that cannot be modulated effectively by small molecules. Although some targets under investigation can be addressed with biologics, the firms believe that many opportunities remain unexploited because an oral medication is preferred by physicians and patients (e.g., for life-long chronic diseases).

Bristol-Myers Squibb will have the right to develop and commercialize any products arising from the collaboration. Ensemble is eligible to receive royalties based on worldwide sales.

Past BMS Discovery Deals
Bristol-Myers Squibb Extends Research Collaboration with Exelixis (Nov. 6, 2008)
AMRI Achieves $1.5M Milestone from Bristol-Myers Squibb in CNS Disease Collaboration (Sep. 8, 2008)
Bristol-Myers Squibb Singles Out First Cardiovascular Drug Candidate for Development in Isis Partnership (April 8, 2008)
Ambit Biosciences and Bristol-Myers Squibb Continue Kinase Inhibitor Partnership (Oct. 31, 2007)
Bristol-Myers Squibb Adopts Asterand’s Drug Discovery Services for Three More Years (May 11, 2007)

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