Saxagliptin, a dipeptidyl peptidase-4 (DPP-4) inhibitor, is currently in phase III development. The companies plan to file for US regulatory approval of saxagliptin during the first half of 2008. The second compound dapagliflozin is a sodium-glucose cotransporter-2 (SGLT2) inhibitor and is currently in phase IIb development.
The collaboration on these compounds is worldwide, except for Japan. Should either party develop additional DPP-4 or SGLT2 compounds, the other company can elect to add those compounds to the collaboration.
Terms of the agreements include an upfront payment of $100 million by AstraZeneca to Bristol-Myers Squibb. From 2007 through 2009, the majority of development costs will be funded by AstraZeneca. Bristol-Myers Squibb may also receive additional payments of up to $650 million based on development and regulatory milestones for the two compounds. In addition, potential sales milestones up to $300 million per product are also possible.
“This collaboration provides Bristol-Myers Squibb the opportunity to maximize our primary care assets, and it is aligned with our corporate strategy to concentrate R&D efforts on serious diseases such as diabetes while maintaining commercial focus on specialists and high prescribing primary care physicians,” said Jim Cornelius, CEO, Bristol-Myers Squibb.