Bristol Myers Squibb approves another Prothena neurodegenerative therapy

Bristol Myers Squibb (BMS) has once again extended its collaboration with Prothena, acquiring exclusive global rights to a promising neurodegenerative therapy, PRX019. This comes after the FDA cleared Prothena’s investigational new drug (IND) application for PRX019 in December 2023. The deal sees BMS disbursing $80 million for these rights, with clinical trials projected to commence before the end of the year, according to an official announcement.

PRX019, targeting an undisclosed neurodegenerative condition, is the latest addition to the Prothena-BMS partnership, reinforcing their collaborative efforts in the field of neurological diseases. The financial agreement includes not just the upfront $80 million but also potential future payments amounting to up to $617.5 million. These additional payments will be contingent on the achievement of specific development, regulatory, and sales milestones. Moreover, Prothena stands to receive royalties based on the future sales of PRX019.

This isn't the first time BMS has invested in Prothena’s innovative therapeutic solutions. Earlier in July 2023, BMS paid $55 million for a worldwide license to PRX005, a clinical-phase candidate for Alzheimer’s disease. This followed an initial $80 million payment in 2021 for U.S. rights to PRX005, highlighting BMS’s commitment to addressing neurodegenerative diseases through strategic partnerships.

In addition to PRX019 and PRX005, the two companies are also working on a preclinical treatment for amyotrophic lateral sclerosis (ALS) known as TDP-43. This multi-faceted collaboration underscores the shared vision of both companies to advance treatment options for debilitating neurological conditions.

Prothena's collaborative ventures extend beyond BMS. The company has established significant partnerships with other pharmaceutical giants. With Novo Nordisk, Prothena is advancing a phase 2 candidate for ATTR amyloidosis, a serious condition characterized by the buildup of amyloid proteins in organs and tissues. Additionally, Prothena is working with Roche on the development of prasinezumab, which is currently in phase 2 trials for Parkinson’s disease.

Among Prothena’s portfolio, the furthest along in development is birtamimab, a therapy for AL amyloidosis. Unlike PRX019 and other collaborative efforts, Prothena is developing birtamimab independently, and it is currently undergoing phase 3 clinical trials. Birtamimab aims to address amyloid light-chain (AL) amyloidosis, a rare and often fatal condition that affects the heart and other vital organs.

In summary, the acquisition of exclusive global rights to PRX019 by BMS for $80 million marks a significant milestone in the ongoing collaboration between BMS and Prothena. This deal not only underscores the potential of PRX019 but also highlights the broader scope of Prothena’s innovative pursuits in tackling neurodegenerative and amyloid-related diseases through strategic alliances with leading pharmaceutical companies.

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