Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Bristol-Myers Squibb and Oncolys BioPharma have signed a definitive agreement under which Bristol-Myers will obtain exclusive worldwide rights to manufacture, develop and commercialise festinavir, a once-a-day, orally available nucleoside reverse transcriptase inhibitor (NRTI) in Phase II development for HIV.
Subscribe to our email newsletter
Under the agreement, Oncolys may receive up to $286m as well as upfront, development, regulatory and sales milestone payments.
In addition, Oncolys is eligible to receive tiered royalties on the basis of worldwide product sales.
Bristol-Myers Squibb Development senior vice president Brian Daniels said the company is committed to the ongoing discovery, development and delivery of medicines to fight HIV/AIDS globally.
"The profile of festinavir offers the possibility of improvement in the safety of long-term HIV treatment, an area of significant unmet medical need," Daniels said.