Santaris’ proprietary Locked Nucleic Acid (LNA) drug platform will be used in the discovery and development of the novel medicines.
The LNA Drug platform combines the company’s LNA chemistry with its targeted drug development capabilities to deliver LNA-based drug candidates against both mRNA and microRNA to treat various diseases.
Santaris Pharma president and CEO Henrik Stage said, "We are delighted to welcome Bristol-Myers Squibb as a new partner. This strategic alliance further consolidates Santaris Pharma’s leadership in the field of oligonucleotide therapeutics."
According to the deal, Santaris will earn a $10m upfront payment, funds for ongoing discovery and research activities, around $90m in milestone payments for each product in addition to sales based royalties for medicines resulting from the partnership.
Santaris chief scientific officer and business development VP Dr Henrik Ørum said, "We are confident that the unique features of the LNA Drug platform can achieve clinical breakthroughs and look forward to working closely with the Bristol-Myers Squibb team."