Bristol-Myers Squibb (BMS) could earn over $1 billion in up-front and milestone fees through separate agreements to license out its clinical-stage anti-eTau monoclonal antibody (BMS-986168), which is in development for treating progressive supranuclear palsy (PSP), to Biogen, and its an anti-myostatin adnectin fusion protein (BMS-986089), which is in development for treating Duchenne muscular dystrophy (DMD), to Roche.
“Licensing these assets to Biogen and Roche will enable BMS to prioritize the other promising opportunities for asset development that have advanced across our diversified portfolio,” said Mike Burgess, BMS head of cardiovascular, fibrosis, and immunoscience development.
Biogen is paying $300 million upfront for BMS-986168 and could make further milestone payments of up to $410 million, plus double-digit sales royalties. Biogen is also taking over all BMS’ existing milestone obligations to tauopathy drug discovery and development firm iPierian, which BMS acquired in 2014 for $175 million in cash to acquire lead candidate IPN007 (now BMS-986168) and the firm’s tau protein platform. Currently in development for the PSP indication, BMS says the drug could potentially be developed against other neurodegenerative disorders, including Alzheimer’s disease.
Roche will pay BMS $170 million upfront for BMS-986089 and may have to shell out up to $205 million in milestones, plus double-digit sales royalties. BMS-986089 is a novel fusion protein designed to suppress myostatin. BMS suggests the candidate could have potential applications in neuromuscular disorders other than DMD.