Bristol-Myers signs collaboration agreement with Nissan and Teijin

Bristol-Myers Squibb Company has signed a global collaboration agreement with Japan-based manufacturing company Nissan Chemical Industries, and Teijin Pharma for the development and commercialization of NTC-801, a selective inhibitor of the acetylcholine-activated potassium ion channel, currently in Phase I development in Japan, for the maintenance of normal sinus rhythm in patients with atrial fibrillation.

Under the terms of the collaboration agreement, Nissan Chemical and Teijin Pharma will grant to Bristol-Myers Squibb exclusive rights for the development and commercialization of NTC-801, and certain backup compounds, worldwide, excluding Japan.

An upfront cash payment of $40 million, potential development based milestone payments of up to $170 million, sales based milestones of up to $175 million and royalties on net sales for licensed products are payable by Bristol-Myers Squibb. Nissan Chemical has previously granted Teijin Pharma exclusive rights to NTC-801 in Japan.

Francis Cuss, senior vice president of discovery and exploratory clinical research at Bristol-Myers, said: We are pleased to have the opportunity to work with Nissan Chemical and Teijin Pharma to develop this atrial-selective antiarrhythmic medicine.

NTC-801 provides us with the opportunity to leverage our company’s deep expertise in helping patients prevail over cardiovascular disease, and further strengthens and expands our pipeline in cardiovascular adjacencies.