Yale University has developed the intellectual property behind Anteros and was first in-licenced by BMS and later authorised to Anteros.
BioMotiv CEO Dr Satish Jindal said: “Anteros Pharmaceuticals is the first of several companies that BioMotiv and Bristol-Myers Squibb intend to form under the Strategic Partnership Agreement.
“Anteros will focus on refining a new class of drug candidates for inflammatory diseases, where currently there are no real answers to multiple diseases that afflict millions of patients.”
Anteros has been launched as part of the strategic partnership agreement, which was first signed in September 2019.
As per terms of the partnership, BMS will provide IP, data, and reagents for a series of small molecules against an undisclosed mechanism, while BioMotiv works with Yale through the formation of Anteros and takes responsibility for research and development.
Upon the announcement of a pre-clinical candidate by Anteros, BMS will have an option to purchase the company from BioMotiv as per pre-agreed terms.
BMS research and early development executive vice president Dr Rupert Vessey said: “Bristol-Myers Squibb is committed to partnering with innovative collaborators like BioMotiv, which expand our reach and capabilities in early-stage research.
“These types of partnerships also enable us to progress the transformational research being performed at leading academic institutions such as Yale and effectively translate those discoveries into new therapies for patients.”
BioMotiv is a mission-driven drug development accelerator associated with The Harrington Project for Discovery & Development, a $340m initiative focused on promoting early-stage breakthrough discoveries from research institutions into medicines.
In November last year, BMS completed the acquisition of US-based biotechnology company Celgene in a cash-cum-stock deal worth around $74bn.
The transaction is expected to result in a speciality biopharma firm that will develop high-value innovative medicines to meet the needs of patients with cancer, inflammatory and immunologic disease and cardiovascular disease.