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.AMRI has announced that Bristol-Myers Squibb has submitted a Clinical Trial Application (CTA) to the Medical Products Agency (MPA) in Sweden for approval to initiate Phase I clinical trial on an AMRI compound exclusively licensed to Bristol-Myers Squibb.
Subscribe to our email newsletter
Once approved, Bristol-Myers Squibb will begin Phase I trial in Sweden.
Bristol-Myers Squibb will pay a consideration of $4 million to AMRI, as a result of the submission of CTA as per the collaborative agreement between the two companies.
This is the second AMRI compound from this collaboration to be selected by Bristol-Myers Squibb for Phase I testing. Bristol-Myers Squibb initiated a Phase I study on a separate AMRI compound in Canada in 2008, said the company.
The total milestone and licensing fee earned by AMRI to date is $17.5 million for the ongoing research collaboration to develop improved treatments for depression and diseases of the central nervous system.
Under the terms of the agreement AMRI is eligible to receive up to $66 million per compound in development and up to $22 million per compound on subsequent compounds. AMRI will also receive royalties on worldwide sale of commercialized compounds.