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news.Bristol-Myers Squibb (BMS) has paid $3m as a milestone payment to AMRI, following the initiation of Phase 2 trial of AMRI compound which has been licensed to BMS.
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Originally, the licensing agreement was signed between BMS and AMRI in 2005.
Under the agreement, AMRI has licensed BMS its technology around central nervous system (CNS) triple reuptake transporter inhibitors as potential improved treatments for depression and diseases of the CNS.
So far, AMRI has earned a total of $22m as milestone and licensing fees from BMS excluding $10m in research collaboration fees.
The agreement entitles AMRO to receive up to $66m as development and milestone payments per compound for the first two compounds and payments of up to $22m per compound on subsequent compounds.
BMS is responsible to pay royalties on worldwide sales of any commercialized compounds to AMRI.