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news.Bristol-Myers Squibb and Medivir are collaborating to develop and commercialize MIV-170, a treatment of HIV-1 infection in adults as part of an antiretroviral drug regimen.
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The agreement includes an upfront payment from Bristol-Myers Squibb of $7.5 million to Medivir. Sweden-based Medivir also may receive pre-specified development and regulatory milestones totaling approximately $97 million from the collaboration, as well as up to double-digit royalties on sales of the product commercialized under the collaboration.
Under the licensing agreement, Bristol-Myers Squibb will be responsible for the worldwide development and commercialization for all countries, excluding the Nordic region, where Medivir has retained the Nordic region commercialization rights.
“We are very excited and proud to give Bristol-Myers Squibb, a recognized global leader in HIV/AIDS treatment therapies, the opportunity to develop and commercialize MIV-170. This is the third out-licensing of a Medivir polymerase inhibitor in less than three months and yet another sign that we are delivering on our promises,” said Lars Adlersson, CEO and president of Medivir.