In consideration for the selective androgen receptor modulator (SARM) program license, Pharmacopeia will apply a portion of its medicinal chemistry resources to an unrelated Bristol-Myers Squibb discovery program for up to three years and pay Bristol-Myers Squibb milestone payments associated with submission and approval of a therapeutic product for marketing and a stepped royalty on net sales of therapeutic SARM products, if any, resulting from the SARM development program.
Les Browne, president and CEO, said: “I am very pleased to have broadened our portfolio under mutually attractive terms by adding Phase I compound, PS178990, which is the seventh clinical development-stage compound being advanced by Pharmacopeia or its collaborators. This program offers Pharmacopeia another opportunity to build the business by adding a Phase I development stage product candidate with the potential to treat a wide range of underserved conditions.”