Bristol-Myers
Squibb Company (NYSE:BMY) and the California Institute for
Biomedical Research (Calibr) announced today they have entered into a
worldwide research collaboration to develop novel small molecule
anti-fibrotic therapies, and an exclusive license agreement that allows
Bristol-Myers Squibb to develop, manufacture and commercialize Calibr’s
preclinical compounds resulting from the collaboration.
“Bristol-Myers Squibb’s collaboration with Calibr further strengthens
our Specialty portfolio and advances the company’s fibrotic diseases
pipeline with the addition of this promising program,” said Carl
Decicco, Ph.D., Head of Discovery, R&D, Bristol-Myers Squibb. “Calibr’s
innovative discovery program in fibrosis represents an opportunity to
develop new treatment approaches for patients.”
“Progressing our small molecule anti-fibrotic program toward the clinic
represents a critical step in our mission to deliver therapies for unmet
medical needs to patients,” said Peter G. Schultz, Ph.D., Institute
Director and Founder of Calibr. “We are delighted to accelerate these
efforts by partnering with Bristol-Myers Squibb.”
Identifying novel medicines to halt or slow the progression of fibrotic
disease and improve upon the current standard of care is a key part of
Bristol-Myers Squibb’s R&D strategy. Calibr, an independent,
not-for-profit organization established to accelerate the translation of
basic biomedical discoveries into innovative new medicines, brings to
the collaboration substantial expertise in identifying and optimizing
small molecules with anti-fibrotic activity through its high-throughput
screening, target identification, and preclinical drug discovery
infrastructure.
Bristol-Myers Squibb is committed to addressing the unmet need in
fibrosis, a strategic area of focus for the company, by identifying
novel medicines to halt or slow the progression of fibrotic disease.
Among the assets in Bristol-Myers Squibb’s fibrosis portfolio are
BMS-986020, a lysophosphatidic acid 1 (LPA1) receptor antagonist in
Phase 2 development for the treatment of idiopathic pulmonary fibrosis
(IPF), and a CCR2/5 dual antagonist in Phase 2 development for diabetic
kidney disease. In November, 2014, Bristol-Myers Squibb and
Galecto Biotech AB announced, together with the Galecto shareholders, an
agreement that provides Bristol-Myers Squibb the exclusive option to
acquire Galecto Biotech AB and gain worldwide rights to its lead asset
TD139, a novel inhaled inhibitor of galectin-3 in Phase 1 development
for the treatment of IPF and other pulmonary fibrotic conditions.
Bristol-Myers Squibb and Calibr anticipate that the transaction will
close during the first quarter of 2015. Closing of the transaction is
subject to customary closing conditions, including clearance under the
Hart-Scott-Rodino Antitrust Improvements Act. Financial terms of the
agreement were not disclosed.
About California Institute of Biomedical Research
The California Institute for Biomedical Research (Calibr) is an
independent, not-for-profit organization established in 2012 with the
goal of accelerating the translation of basic biomedical research to new
therapies that address unmet medical needs. Calibr’s research interests
span a large range of human diseases, including cancer, autoimmunity and
inflammatory diseases, metabolic and cardiovascular diseases, infectious
and neglected diseases, as well as age-related and degenerative diseases.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information, please
visit www.bms.com
or follow us on Twitter at http://twitter.com/bmsnews.
Bristol-Myers Squibb Forward-Looking Statement
This press release contains “forward-looking statements” as that term
is defined in the Private Securities Litigation Reform Act of 1995
regarding the research, development and commercialization of
pharmaceutical products. Such forward-looking statements are
based on current expectations and involve inherent risks and
uncertainties, including factors that could delay, divert or change any
of them, and could cause actual outcomes and results to differ
materially from current expectations. No forward-looking
statement can be guaranteed. Among other risks, there can be
no guarantee that the investigational compounds discussed in this
release will be successfully developed or approved for any of the
indications described in this release or that the transaction will close
within the timeframe described in this release. Forward-looking
statements in this press release should be evaluated together with the
many uncertainties that affect Bristol-Myers Squibb's business,
particularly those identified in the cautionary factors discussion in
Bristol-Myers Squibb's Annual Report on Form 10-K for the year ended
December 31, 2013 in our Quarterly Reports on Form 10-Q and our Current
Reports on Form 8-K. Bristol-Myers Squibb undertakes no
obligation to publicly update any forward-looking statement, whether as
a result of new information, future events or otherwise.
Copyright Business Wire 2015